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Sterling Biotech fraud: Sandesara promoters approach court

Sterling Biotech fraud: Sandesara promoters approach court

Two of the main promoters of the Sterling Biotech Ltd (SBL), Nitin Jayantilal Sandesara and Chetankumar Jayantilal Sandesara, along with Dipti Chetan Sandesara on Thursday moved a Delhi court seeking cancellation of Non-Bailable Warrants (NBWs) issued against them in the Rs 8,100 crore bank fraud case. The Sandesaras moved an application through their counsel before Additional Sessions Judge Satish Kumar Arora, who directed them to furnish their address to the Enforcement Directorate (ED) within 15 days and listed the matter for April 2.

Besides cancellation of NBW issued against them, the Sandesaras have also sought permission to appear in court through their counsel. The Enforcement Directorate (ED) opposed their plea, saying extradition proceedings from Italy and Nigeria are being carried out against the Sandesaras as they have been absconding since the investigation and an open-ended NBW was obtained from the court for this purpose. The court had on January 21 allowed the agency to go ahead with the extradition process initiated against four of the Sterling Biotech promoters including the Sandesara brothers.

(With inputs from agencies.)

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