The Central Bureau of Investigation (CBI) has no input on fugitive Nitin Sandesara's whereabouts from United Arab Emirates (UAE) or Nigeria, news agency ANI quoted CBI sources as saying on Monday.
Sandesara is absconding. He is a director of a Gujarat-based pharma company Sterling Biotech. The company is being probed in a Rs 5,000 crore bank fraud case.
Central Bureau of Investigation (CBI) has no input on fugitive Nitin Sandesara's whereabouts from UAE or Nigeria: CBI sources pic.twitter.com/NW12dtMTT9— ANI (@ANI) September 24, 2018
In June this year, the Enforcement Directorate (ED) had attached properties worth Rs 4,700 crore of Sandesara.
The Directorate has attached properties of Sterling Biotech in Mumbai and Ahmedabad under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, an ED official told IANS.
The ED action comes after the CBI lodged an FIR against 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 turned into non-performing assets. The total pending dues of the group companies stood at Rs 5,383 crore as on December 31, 2016, said the CBI FIR.
(With inputs from agencies)