#sterling biotech

[indizombie]

Chetan Jayantilal Sandesara and Nitin Jayantilal Sandesara, directors of Sterling Biotech Ltd., are being investigated for bank frauds of Rs. 5,000 crore. Jatin Mehta owes the Central Bank of India Rs. 1,390 crore, Punjab National Bank Rs. 984 crore, and Canara Bank 636 crore. Ultimately, most of this is going to be written off. Even the scamsters know that. They know many never get caught or jailed for similar acts. That is why there is a widespread perception in India that impunity lets such frauds continue. An RTI activist has found that the RBI wrote off outstanding loans of wilful defaulters amounting to Rs. 68,607 crore till September 2019. In 2020, there were around 190 cases of bank frauds registered by the Central Bureau of Investigation, in which the misappropriation of funds was close to Rs. 60,000 crore.

Ramesh Menon, 'Dilip Chhabria made crores designing cars, then why did he design creative ways to defraud banks?', Leaflet

[digitaltariq]

Sterling Biotech Case Reassigned To Same Judge Who Recused Earlier Sterling Biotech Case Reassigned To Same Judge Who Recused Earlier. (Representational) New Delhi: A Rs 8,100-crore bank loan fraud case against the owners of Gujarat-based Sterling Biotech group and others was on Tueday reassigned here to the same judge who a day earlier recused himself from hearing the matter, saying he was approached by one of the parties in the case.

[m-n-a-critique]

Sterling Biotech promoters gets a breather as NCLAT halts liquidation process

#SterlingBiotech promoters gets a breather as #NCLAT halts liquidation process

In a landmark ruling, the National Company Law Appellate Tribunal (NCLAT) has set aside National Company Law Tribunal (NCLT) order to liquidate Sterling Biotech. It has also directed that the management should be handed over to its promoters if the dues of creditors are settled.

In an oral order, a three-member NCLAT bench presided over by justices SJ Mukhopadhyay and AIS Cheema along with…

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