A Delhi court Friday sought the response from Congress leader Ahmed Patel patronaged Sterling Biotech promoters following an Enforcement Directorate’s plea to declare them fugitive economic offenders in connection with a Rs 8,100-crore bank fraud case. Additional Sessions Judge Satish Kumar Arora issued the notices to the owners of the Gujarat-based pharmaceutical firm — Nitin Sandesara, Chetan Sandesara, Dipti Sandesara, Hitesh Patel.

The plea has been filed by ED under various sections of the Fugitive Economic Offenders Act, 2018 for the declaration of the accused as offenders and for the confiscation of properties which are either in their names or they have interest in the properties as beneficial owners. ED’s special public prosecutor Nitesh Rana said the total amount involved in money laundering, which “is nothing but proceeds of crime” in the matter has been quantified as Rs 8,100 crore approximately from the investigation conducted so far.

CBI Special Director Rakesh Asthana was caught for accepting more than Rs.3.5 crore from the Sterling Group

The ED told the court that the accused persons have left the country under suspicious circumstances and evaded the process of law to face criminal prosecution. “Despite the instant developments being well in their knowledge, they have chosen to deliberately not to return to the country and submit to the jurisdiction of the court. They are shifting countries to escape the clutches of the law,” it said.

The agency also told the court that it is suspected that the accused at present may be residing in Nigeria, United States or the United Arab Emirates because they have extensive business interests in these countries.

ED said the investigation has revealed that 249 companies have been incorporated in the country by promoters of Sterling Biotech out of which 200 firms were found to be ‘benami’ entities used to siphon off loan funds obtained from various banks. On October 23, the ED had filed a supplementary charge sheet against seven persons in the court in the money laundering case.

CBI Special Director Rakesh Asthana was caught for accepting more than Rs.3.5 crore from the Sterling Group (Link : https://www.pgurus.com/prashant-bhushan-accuses-cbi-officer-rakesh-asthana-of-accepting-rs-3-5-crores-from-sterling-biotech/ ) Ahmed Patel’s son and son-in-law also in the CBI and ED radar in the Sterling case. Many hawala operators have deposed in court that they have carried bags of money to Ahmed Patel’s home. (Link : https://www.pgurus.com/ahmed-patel-directly-received-money-from-sterling-sandesara-group-confesses-the-accused-hawala-operator-johny/ )

Note:

1. Text in Blue points to additional data on the topic.