Update at 12:36 PM: Total attached properties stands at Rs 13000 crore now. ED has further revealed that total outstanding dues to banks are over Rs 13,371 crore rupees. The total fraud stands at over Rs 8000 crore (Domestic Rs 3600 crore + Foreign Rs 4400 crore).
In a massive crackdown against corruption, the Enforcement Directorate has attached Rs 9778 crore worth properties of brothers Chetan and Nitin Sandesara in the Sterling biotech case. The ED has attached the planes and properties of Chetan and Nitin Sandesara in London in the case.
The Enforcement Directorate had in August 2017 filed a case of money laundering against Sterling Biotech company, the same month in which the promoters of the group, Nitin and Chetan Sandesara, fled the country. Later on October 23, 2018, the agency filed a chargesheet in the Sterling Biotech case in a special PMLA (Prevention of money laundering Act) court in New Delhi.
The Gujarat-based Sterling Biotech group bank loan fraud case relates to the promoters of the group, Nitin and Chetan Sandesara, and others who availed credit worth thousands of crores sanctioned by a consortium of banks, that turned NPA. The Sandesaras, who fled the country in August 2017, had allegedly used hundreds of shell companies in India and abroad to divert and misuse loan funds.
As per agency report, Hitesh Patel, an accused in the Rs 8,100-crore bank loan fraud allegedly perpetrated by Sterling Biotech group, was detained on March 22 this year in Albania on the basis of an Interpol notice issued against him by the ED.
"Patel is an accused in the case and is the brother-in-law of one of the main accused, Chetan Sandesara. The other prime accused is Nitin Sandesara. Patel is expected to be extradited to India soon," the ED officials had said.
The Sandesara brothers are also stated to be in Albania and on March 19, a Delhi court had allowed the ED to send extradition requests to that country against the two, news agency PTI reported.
Based on reliable sources, the ED also told the court that both Nitin Sandesara and Chetan Sandesara have obtained the citizenship of Albania and non-bailable warrants (NBW) were issued against them earlier this year.
The accused are also being probed by the ED for allegedly bribing senior Income Tax department officials as part of an earlier criminal complaint.
(With agency inputs)