A completely unconnected litigation in the United States has thrown up yet another money trail of the fugitive Sandesara family, the promoters of Sterling Biotech and Sterling SEZ, that owes Indian public sector banks (PSBs) vast sums of money.
For those who have not followed this...
There is a new twist to the drama around the Sterling Biotech group whose promoters, while absconding from India, have offered a ‘settlement’ deal to a bunch of lenders, mainly public sector banks (PSBs) and institutions.
Acting through an ‘authorised representative’, the shady...
On 28 August 2019, the National Company Law Appellate Tribunal (NCLAT) delivered a major blow to the efforts of investigation agencies and allowed Andhra Bank and other lenders to withdraw their resolution application. By this order, the controversial Sterling Biotech Ltd is out of the...
Senior Congress leader Ahmed Patel's son Faisal Patel reached the Enforcement Directorate office for questioning here on Thursday in the alleged case of multi-crore bank fraud and money-laundering by the Gujarat-based Sterling Biotech.
On Wednesday, the ED had summoned Congress...
The Enforcement Directorate (ED) on Wednesday has attached assets worth Rs9,778 crore in connection with money laundering probe against Gujarat-based pharmaceutical company Sterling Biotech. The assets attached by the ED includes those belonging to the Sandesara brothers spread in different...
