Rs 5,000 crore Bank Loan Fraud by Sterling Biotech Limited: ED attaches Sandesara Group properties
Today in Sterling Biotech Bank Loan Fraud Case: ED Enforcement Directorate attaches Sandesara Group of movable and immovable properties worth Rs 5,000 Crores.
Nitin Sandesara and Chetan Sandesara are the promoters of the company and runs it from Vadodara. They have purchased immovable property including luxurious apartments and cars including BMW and Mercedez,hafta given to government offices from the money of bank loans borrowed through more than 300 shell companies from various banks and it is not returned by them.
In the first round property worth Rs 4,700 is attached by ED.
Bnaks will hold auction of the property attached by ED of Sandesara group for misusing loans borrowed from Andhra Bank, SBI, UCO Bank, Bank Of India, Allahabad Bank.
As per source.
