NEW DELHI: Two days after the Enforcement Directorate (ED) filed a charge sheet against the two Sandesara brothers, the promoters of Sterling Biotech, in a Rs 8,100 crore money laundering case, it moved court on Friday, requesting that they be declared fugitive economic offenders.
Apart from the two Sandesara brothers, who are absconding, the ED also charged their two aides—Dipti and Hitesh Patel—under the Fugitive Economic Offenders Law. All the four are promoters of the Sterling Group and have fled the country to avoid the criminal probe against them.
The move will enable the agency to confiscate their assets if they fail to comply with the court notice for personal appearance.So far the agency has attached assets worth `4,710 crore in the case. Earlier this week, the ED filed a prosecution complaint (charge sheet) against the Sandesara family in the `8,100-crore money laundering case and arraigned 191 accused.
In its charge sheet, it alleged that they had cheated a consortium of banks led by Andhra Bank of loans worth `8,100 crore , out of which domestic loans accounted for `3,675 crore while `4,425 crore were availed off on foreign shores.The total outstanding amount now stands at `13,754 crore against the group and the promoters.