Non-bailable warrant to pharma firm directors for Rs.8100 cr bank fraud

Non-bailable warrant to pharma firm directors for Rs.8100 cr bank fraud

Non-bailable warrant to pharma firm directors for Rs.8100 cr bank fraud

New Delhi, Jan 6:
A Delhi court on Saturday issued open-ended non-bailable warrants (NBWs) against four directors of a Gujarat pharma firm in a Rs 8,100-crore money laundering probe case.
Additional Sessions Judge Satish Kumar Arora allowed the Enforcement Directorate’s plea seeking issuance of NBW against Sterling Biotech Ltd (SBL) directors Nitin Jayantilal Sandesara, Chetankumar Jayantilal Sandesara, Dipti Chetan Sandesara and Hiteshkumar Narendrabhai Patel. The ED has registered the alleged bank fraud case against the firm SBL under sections of the Prevention of Money Laundering Act (PMLA).
The accused are also being probed by the ED for allegedly bribing senior income tax department officials as part of an earlier criminal complaint.
The agency had on December 24 last year informed the court that it wanted to approach Interpol for issuance of Red Corner Notice (RCN) against the SBL’s directors. The ED’s special public prosecutor Nitesh Rana had told the court that the Interpol guidelines for opening RCN against the four accused persons required open-ended NBWs from the court.

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