Bank Fraud: ED attaches assets worth over Rs 9,000 crore in Sterling Biotech PMLA case
New Delhi: The ED has attached assets worth over Rs 9,000 crore in connection with its money laundering probe against Gujarat-based pharmaceutical firm Sterling Biotech, which is allegedly involved in a multi-crore bank fraud case, officials said Wednesday.
The officials said a provisional order of attachment was issued by the central probe agency under the Prevention of Money Laundering Act (PMLA).
The value of the attached properties, including those overseas, is stated to be at Rs 9,778 crore.
It is alleged that the company took loans of over Rs 5,000 crore from a consortium led by Andhra Bank, which had turned into non-performing assets.The total volume of the alleged loan defraud is pegged at Rs 8,100 crore.
The Enforcement Directorate (ED) registered a criminal case in the alleged bank fraud scam based on a Central Bureau of Investigation FIR and charge sheet.
The promoters of the firm, alleged to be the main conspirators of the bank fraud, are the Sandesara brothers of Vadodara and they are absconding.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
US rules out use of nuclear weapons against Iran
Washington DC: The White House has reportedly ruled out the use of nuclear weapons against Iran, even as uncertainty continues over ongoing peace negotiations and a deadline set by US President Donald Trump approaches.
Issues bout a possible escalation had increased after US Vice President JD Vance said that the United States has “tools in our toolkit that we so far haven’t decided to use” in dealing with Iran.
His remarks came amid rising tensions and ahead of a deadline linked to peace efforts.
The situation has attracted attention as Trump warned Iran that its “whole civilization will die tonight tonight” if an agreement is not reached by Tuesday at 8 pm.
This statement led to speculation about the possibility of extreme military measures, including a nuclear strike.
Following Vance’s comments, the White House issued a clarification distancing itself from such interpretations. In a post on X, it said, "Literally nothing @VP said here 'implies' this, you absolute buffoons." In a later statement, it added that “only the president knows” what action will be taken regarding Iran.
Literally nothing @VP said here "implies" this, you absolute buffoons https://t.co/7JU3wXMaWX
— Rapid Response 47 (@RapidResponse47) April 7, 2026
