CHETAN SANDESARA DEFAULTERS FUGITIVE SANDESARA NITIN SANDESARA STERLING BIOTECH

Delhi Sessions Court declared Nitin Sandesara, Chetan Sandesara, Dipti Chetan Sandesara and Hiteshkumar Patel as ‘fugitive economic offenders’.
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Delhi Sessions Court declared Nitin Sandesara, Chetan Sandesara, Dipti Chetan Sandesara and Hiteshkumar Patel as ‘fugitive economic offenders’.

In a massive development on Monday, the Delhi Sessions Court declared Nitin Sandesara, Chetan Sandesara, Dipti Chetan Sandesara and Hiteshkumar Patel as 'fugitive economic offenders'. This came on a plea by the Enforcement Directorate which has charged the aforesaid persons of bank fraud and money laundering. So far, Vijay Mallya and Nirav Modi have been declared as fugitives under the Fugitive Economic Offenders Act 2018, which allows the confiscation of assets.  The Sandesara brothers- promoters of the Sterling Biotech Group and others allegedly swindled several banks to the…
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Employees of Sterling Energy and Exploration Production Ltd (SEEPCO) in Nigeria, reached out to the Indian government for help about unpaid salaries through Twitter.
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Employees of Sterling Energy and Exploration Production Ltd (SEEPCO) in Nigeria, reached out to the Indian government for help about unpaid salaries through Twitter.

In June 2016, several people, claiming to be employees of Sterling Energy and Exploration Production Ltd (SEEPCO) in Nigeria, reached out to the Indian government for help through Twitter. They had not been paid salaries for more than seven months. Responding to one of those tweets by Prashant Singh, who said he was working as a geophysicist at SEEPCO’s exploration facility at Lagos in Nigeria, minister of state for external affairs V.K. Singh said on 15 June that the “Indian embassy was making all efforts and will…
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Who is Nitin Jayantilal Sandesara? Sterling Biotech owner who has been declared “Absconding”
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Who is Nitin Jayantilal Sandesara? Sterling Biotech owner who has been declared “Absconding”

Nitin Sandesara, owner of Gujarat-based Sterling Biotech has been detained in UAE in connection with a Rs 5,000 crore bank fraud. The pharma player has allegedly been involved in wilfully defaulting on bank loans worth Rs 5,383 crore and diverting them for personal purposes of the owners. The Indian Express reported sources as saying that Sandesara has been detained in Dubai on a request from the two agencies and the Ministry of External Affairs (MEA) is now in touch with the authorities concerned there to bring him…
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Special Story:The Rise and Fall of fugitive Sandesara.
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Special Story:The Rise and Fall of fugitive Sandesara.

The friend of politicians, celebrities and bureaucracts is now declared "ABSCONDING" by Government. New Delhi: Amongst the Gujarati business elite, the Sandesaras of Vadodara were always outliers. As brash, first-generation entrepreneurs in the 1980s, they didn’t quite fit in with Gujarat’s old-world industrialists: the Patels of the Nirma Group, the Lalbhai textile giants, the Mehtas of Torrent or the Bakeri real-estate lords. All in all, a group of businessmen who prided themselves on sticking to a single market and typically passed their businesses down from father to son. Nor…
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Fugitive Sandesara of Sterling Biotech Dictates Terms to Indian Public Sector Banks
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Fugitive Sandesara of Sterling Biotech Dictates Terms to Indian Public Sector Banks

Remember the four politically powerful promoters of the Sterling Biotech group (Nitin Sandesara, Chetankumar Sandesara, Dipti Chetan Sandesara—and Hiteshkumar Patel) who have been absconding from India after running up Rs15,600+ crore of bad loans? They continue to manipulate the judicial system, string banks along and, now, have come up with a proposal to delay their one-time settlement (OTS) of Rs2,638 crore to December 2021. This is the balance after paying up a pittance of Rs181 crore as part of their Rs3,100 crore settlement that the National Company Law Appellate…
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