Sterling Biotech receives NBWs in Rs 8,100-crore bank loan fraud case
The ED has registered the alleged bank fraud case against the firm SBL under sections of the Prevention of Money Laundering Act (PMLA).
By PTI |
A Delhi court Saturday issued open-ended non-bailable warrants (NBWs) against four directors of a Gujarat pharma firm in a Rs 8,100-crore money laundering probe case.
Additional Sessions Judge Satish Kumar Arora allowed the Enforcement Directorate's plea seeking issuance of NBW against Sterling Biotech Ltd (SBL) directors Nitin Jayantilal Sandesara, Chetankumar Jayantilal Sandesara, Dipti Chetan Sandesara and Hiteshkumar Narendrabhai Patel.
The ED has registered the alleged bank fraud case against the firm SBL under sections of the Prevention of Money Laundering Act (PMLA).
The accused are also being probed by the ED for allegedly bribing senior income tax department officials as part of an earlier criminal complaint.
Additional Sessions Judge Satish Kumar Arora allowed the Enforcement Directorate's plea seeking issuance of NBW against Sterling Biotech Ltd (SBL) directors Nitin Jayantilal Sandesara, Chetankumar Jayantilal Sandesara, Dipti Chetan Sandesara and Hiteshkumar Narendrabhai Patel.
The ED has registered the alleged bank fraud case against the firm SBL under sections of the Prevention of Money Laundering Act (PMLA).
The accused are also being probed by the ED for allegedly bribing senior income tax department officials as part of an earlier criminal complaint.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
