The Enforcement Directorate on Monday filed a plea in a Delhi court asking it to issue open-ended non-bailable warrants against four promoter-directors of a pharmaceutical firm in Gujarat in a money laundering case, PTI reported. An open-ended non-bailable warrant does not carry a time limit for execution.
Additional Sessions Judge Siddharth Sharma said the next hearing will be held on January 5.
The agency wants the warrants issued against Nitin Sandesara, Chetankumar Sandesara, Dipti Chetan Sandesara and Hiteshkumar Patel – all directors of Sterling Biotech. The Sandesaras are reportedly based in Nigeria, while Patel is said to be in the United States. In October, the agency had moved court to declare the four accused directors fugitive economic offenders under a new law.
“All the four are promoters of the Sterling Group and have fled the country to avoid criminal probe against them in a Rs 8,100-crore bank loan fraud involving a consortium of banks,” an unidentified agency official had said.
On December 6, The Hindu reported that the Enforcement Directorate had attached assets worth Rs 4,700 crore in the money laundering case against Sterling Biotech.
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