Vadodara based bank fraud case accused Nitin Sandesara arrested in Dubai
August 15, 2018
Ahmedabad: Nitin Jayantilal Sandesara, an absconding director of a Gujarat-based pharma company Sterling Biotech which is being probed in a Rs 5,000 crore fraud case, has been arrested in Dubai by Dubai Police based on a non-bailable arrest warrant issued by an Indian Court, news agency PTI reports quoting officials adding that Indian agencies will try to get Sandesara deported.
As per the FIR, the total pending dues of the group of companies were Rs 5,383 crore as on December 31, 2016. The ED has taken the FIR into cognisance.CBI has booked Vadodara-based Sterling Biotech’s directors Chetan Jayantilal Sandesara, Dipti Chetan Sandesara, Rajbhushan Omprakash Dixit, Nitin Jayantilal Sandesara and Vilas Joshi, chartered accountant Hemant Hathi, former director Andhra Bank Anup Garg and some unidentified persons in connection with the alleged bank fraud case.
The Enforcement Directorate has arrested few people in this case including Delhi-based businessman Gagan Dhawan, former Andhra Bank director Anup Garg and Sterling Biotech Ltd director Rajbhhushan Dixit. ED had also attached assets worth over Rs 4,700 crore of the pharmaceutical firm in June this year.
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