Bigger India

Rs 5,000 Crore Bank Fraud: Nitin Sandesara, Family May Have Fled To Nigeria

It is alleged that the Sandesaras set up more than 300 shell and benami companies in India and abroad.

A month after reports suggested that Nitin Sandesara, owner of Gujarat-based Sterling BiotechNSE -6.25 % and wanted by the CBI and the ED in a Rs 5,000 crore bank fraud, was detained in Dubai , it has now emerged that he is not in the UAE and could have fled to Nigeria.

According to top sources in the two agencies, Sandesara and other family members including brother Chetan Sandesara and sister-in-law Diptiben Sandesara were believed to be hiding in Nigeria. India doesn’t not have an ex ..


Read it at Economic Times

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