ED informs court about extradition process of 4 SBL promoters in bank fraud case

The Enforcement Directorate Monday informed a Delhi court that it has initiated extradition process against four Sterling Biotech promoters in the Rs 8,100 crore bank fraud case. The agency made the submissions before Additional Sessions Judge Satish Kumar Arora and sought the court's certification of the process against Nitin Jayantilal Sandesara, Chetankumar Jayantilal Sandesara, Dipti Chetan Sandesara and Hiteshkumar Narendrabhai Patel.

The ED told the court that the four accused are reported to be in Italy and Nigeria and their extradition was required for probing the case. The ED has registered the alleged bank fraud case against the firm SBL under sections of the Prevention of Money Laundering Act (PMLA). The court had earlier this month issued open-ended non-bailable warrants against the four promoters of the Gujarat pharma firm in the case.