ED approaches Court to declare Ahmed Patel patronaged Sandesara – Sterling Group promoters as fugitives

Ahmed Patel supporter Sandesara Group declared as fugitives by ED

Ahmed Patel supporter Sandesara Group declared as fugitives by ED
Ahmed Patel supporter Sandesara Group declared as fugitives by ED

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/ )

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4 COMMENTS

  1. All this court filings & notices is ok, citizen wants to see them punished similar to USA where the convicts are jailed for 500 years of jail without parole, in solitary confinement in an underground cell where he is deprived of evening looking at sun.

  2. Now it seems that these corruptions, unscrupulous business activity, Bank frauds are well routed to the root and very difficult to award punishment through proper courts and laws presently available. It is better to make some ordinance on quick action basis or even declare emergency and attach all the properties of these corrupt business men and politicians and sell them and realize and credit Govt. account. May be some people may suffer on account improper action by bureaucrats, in certain cases. Those may be compensated at a later date if proved right. Otherwise our country will go to hell very shortly and nobody can reverse. In the previous emergency politicians were put into jail and harassed. Let us declare emergency for economic offenders and clear the mess on war footing.

  3. What close–the so called bureaucrats have been literally eating out of the hands of these anti-Indian Palace bodyguards for decades! And, it is an abominable truth that, the Modi govt never had the guts to take action. Such people alone (with shifting allegiance) are systematically patronised by this govt.
    When will PM learn?
    One wonders, if he has never had any opportunity in his life to come across impeccably honest officers/people in bureaucracy? And must all those being named by his govt be tainted?
    Remember the famous saying:A man is known by the company he keeps.

  4. This company Sandesara – Sterling Group is totally patronaged by Ahmed Patel. Fault of Modi Govt is – many in his Govt and many of his officers are also very close with Ahmed Patel, who ruled from roost till May 2014. Many have obligations to him. The current CBI chaos starts from the probes on Sandesara – many guys wanted to protect their old mater Ahmed Patel.

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