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ED attaches Sterling Biotech assets, promoters absconding

Jun 27, 2019 14:11 IST

The Enforcement Directorate has attached assets worth over Rs. 9,000 crore in connection with a money-laundering probe against Gujarat-based pharma firm Sterling Biotech. The company is allegedly involved in a multi-crore bank fraud case amounting to Rs. 8,100 crore. The promoters of the firm Nitin Jayantilal Sandesara and Chetankumar Jayantilal Sandesara are both absconding.

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