ED attaches Sterling Biotech's Rs 4,700cr assets
New Delhi, June 1: The Enforcement Directorate on Friday said it has attached properties worth Rs 4,700 crore in a Rs 5,000-crore bank fraud case involving Gujarat-based pharmaceutical company Sterling Biotech.
An ED official told IANS, the agency has attached properties of the Sterling Biotech in Mumbai and Ahmedabad under the sections of Prevention of Money laundering Act, (PMLA), 2002. A
The ED action comes after the Central Bureau of Investigation's (CBI) FIR.
The CBI has booked Sterling Biotech, its directors Chetan Jayantilal Sandesara, Dipti Chetan Sandesara, Rajbhushan Omprakash Dixit, Nitin Jayantilal Sandesara and Vilas Joshi, Chartered Accountant Hemant Hathi, Anup Prakash Garg and some unidentified persons in connection with the alleged bank fraud.
Sterling Biotech had taken loans of over Rs 5,000 crore from a consortium of banks led by Andhra Bank which had turned into non-performing assets. Total pending dues of the group companies were Rs 5,383 crore as on December 31, 2016, said the CBI FIR.
The ED said that during the probe, it found that "certain entries" in a diary seized by the Income Tax Department in 2011 showed cash payments amounting to Rs 1.52 crore made to one "Garg, Director, Andhra Bank" between 2008 and 2009 by the Sandesara brothers.
On January 13, the ED arrested Garg. The agency also arrested a Delhi-based businessman Gagan Dhawan in connection with the case in November 2017.
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Belagavi youth’s murder case projected as road accident, cracked in Uttara Kannada; Three arrested
Karwar: Uttara Kannada police have cracked a murder case in which a Belagavi youth was killed and his body burnt inside a car to make it appear like a road accident.
Addressing a press meet in the city, Superintendent of Police Deepan M.N. said three accused from Old Hubballi have been arrested in connection with the case. The crime was a pre-planned act driven by personal enmity, he said.
The case came to light on April 8 morning when a car (KA-04/MJ-8996) was found completely burnt in a roadside ditch near Talekumbri bus stand in Yellapur. Only charred human remains were found inside the vehicle. Initially, it was suspected to be an accident caused by overspeeding, and a case was registered at Yellapur police station based on a complaint filed by the deceased’s father, Jagannath Dhapale.
However, the father later expressed suspicion that his son’s death was not accidental, prompting a detailed investigation.
Taking the matter seriously, two special teams were formed under the leadership of Yellapur Inspector Ramesh Hanapur. On analysing technical evidence and CCTV footage, police found that it was a planned murder.
The accused have been identified as Abdul Raheem Basheer Ahmed Mujawar (32), Maulasab Bavahan Wada (36) and Dadapeer alias Aftab Mehboob Saab Balasangi (22), all chicken traders from Old Hubballi.
Police have seized the car used in the crime along with two scooters. The accused have been remanded to judicial custody.
Investigations revealed that the accused killed Nitesh Dhapale due to personal enmity and later set the car on fire along with the body to project it as an accident.
SP Deepan M.N. appreciated the efforts of Inspector Ramesh Hanapur, PSIs Rajashekhar Vandali and Siddappa Gudi, and the entire team for solving the complex case.
