Fugitive Gujarati businessman Nitin Sandesara arrested in Dubai for Rs 5,000 crore fraud

Agencies
August 16, 2018

New Delhi, Aug 16: Nitin Sandesara, an absconding director of a Gujarat-based pharma company which is being probed in a Rs 5,000 crore fraud case, has been arrested in Dubai, officials said.

Officials said Sandesara was arrested by Dubai police based on a non-bailable arrest warrant issued by an Indian court.

"The legal process post the arrest is taking place in Dubai. We are waiting for details. Indian agencies will try to get him deported," a senior official said.

Reportedly, Indian probe agencies had information on Nitin Sandesara being in Dubai, following which the authorities alerted the officials in the United Arab Emirates.

The company and its directors are being probed. CBI has booked Vadodara-based Sterling Biotech, its directors Chetan Jayantilal Sandesara, Dipti Chetan Sandesara, Rajbhushan Omprakash Dixit, Nitin Jayantilal Sandesara and Vilas Joshi, chartered accountant Hemant Hathi, former director Andhra Bank Anup Garg and some unidentified persons in connection with the alleged bank fraud case.

It is alleged that the company took loans of over Rs 5,000 crore from a consortium led by Andhra Bank which had turned into non-performing assets.

As per the FIR, the total pending dues of the group of companies were Rs 5,383 crore as on 31 December 2016. The ED has taken the First Information Report (FIR) into cognisance.

The Enforcement Directorate has arrested few people in this case including Delhi-based businessman Gagan Dhawan, former Andhra Bank director Anup Garg and Sterling Biotech Ltd director Rajbhhushan Dixit.

Multiple prosecution complaints or charge sheets have also been filed by it before a special court here.

It had also attached assets worth over Rs 4,700 crore of the pharmaceutical firm in June this year.

Comments

Daanish
 - 
Thursday, 16 Aug 2018

Let's not target particular state/ppl for such work. But definitely without the blessings of Government nothing can be looted. Government must be held responsible in future in such incidents happen.

 

Ravi Prakash
 - 
Thursday, 16 Aug 2018

Finding an honest gujju is like finding a virgin porn star

Truth
 - 
Thursday, 16 Aug 2018

Is it just a co-incidence that since Modi and Shah came to power only Gujaratis are looting the country?

Vinod Raj, Ullal
 - 
Thursday, 16 Aug 2018

This is not first time - gujrat/ gyjratis are mother of all scams: Hardsad Meta, Bharat Shah , Ketan Parekh to name a few , remember gentlemen this fraudsterâ s was being investigated since 2011 and he is close to chidu , vadra ! Moreover Ambanis are also product of 80s, not came up on the indian map of industry in 4-5 years 
So check the fact and then blame to others

Ibrahim
 - 
Thursday, 16 Aug 2018

Modi follower in looting.

Unknown
 - 
Thursday, 16 Aug 2018

This is why people say gujjus and marwari will do anything to get maximum profit.

Ramprasad
 - 
Thursday, 16 Aug 2018

Let Modi now talk of Honest tax payes from Gujerat who will get Punya...His own are stealing in front of his eyes

Ramesh Pandit AR
 - 
Thursday, 16 Aug 2018

How come , now a days all frauds are from Gujarat?

Mohan
 - 
Thursday, 16 Aug 2018

Why all the natorious cheaters, looters, dacoits of public funds are having Gujarati background. Perhaps it is their culture. Nation needs to be aware of these people.

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News Network
March 5,2020

Bengaluru, Mar 5: The Karnataka government has constituted a competent authority for I Monetary Advisory (IMA) cases under the KPIDFE (Karnataka Protection of Interest of Depositors in Financial Establishments) Act, 2004, which is required to call claims from erstwhile depositors of the IMA group of entities under the provisions of the Act, said Harsh Gupta, Special Officer and Competent Authority for IMA cases.

In order to ensure transparency and to avoid harassment to the claimants, an online application software has been developed for accepting claims from the depositors, Gupta stated.

"The claim application can be filed from any of Banglore-1, Karnataka-1 and Seva-Sindhu Kendras of the state government in person or through online. The required documents can be submitted using e-attestation along with claims or at a later date, but prior to the claim settlement. The details of authorities for e-attestation will be informed later," the official stated.

The claimants will have to provide Aadhaar authentication based identification or identification by the designated officer based on alternate documents; current mobile number and address among others.

The details of the draft claim filing process has been put for public feedback on website 'imaclaims.karnataka.gov.in'. The depositors can give their feedback on the website, WhatsApp number or email, Gupta stated.

Based on feedback received from the depositors, the claim process and the claim application software will be finalised, the official said and further informed that the start date for acceptance of claims will be informed through wide publicity at a later date.

"There will be a total time period of 30 days for submission of the claims from the start date of acceptance of claims," Gupta said.

An SIT was investigating the multi-crore IMA Jewels case, where the firm had allegedly cheated a large number of investors after promising them impressive returns on their deposits. The SIT has already arrested several government officials and questioned others including politicians in the matter.

The prime accused and Managing Director of IMA Mohammed Mansoor Khan, who had fled the country after several complaints were registered against him in connection with the scam, has also been arrested.

The state government had constituted an SIT to probe the scam when it first came to light in June earlier this year when more than 4,000 investors trooped outside the showroom after an audio clip purportedly recorded by Khan went viral.

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coastaldigest.com news network
August 6,2020

Madikeri, Aug 6: Heavy rainfall triggered landslides at Brahmagiri hills in Talacauvery in Kodagu on Thursday.

Four members of the Talacauvery temple priest family are missing in the landslides informed Annies Kanmani Joy, Kodagu DC.

She also informed that Advanced Rescue Team has been rushed to incident site.

According to the reports, houses belonging to two priest families were destroyed in the incident. 

However, one house was vacant as family had moved to Bhagamandala.

Visuals from Kodagu showed a flood-like situation, with houses and vehicles submerged under rainwater.

Meanwhile, heavy rains continued to lash Dakshina Kannada, Udupi and Chikkamagaluru districts on Thursday.

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News Network
February 10,2020

Bengaluru, Feb 10: Smoke entered wards at Sagar Hospital following a short circuit in the UPS room, said the fire department here on Sunday.

"Smoke entered wards at Sagar Hospital in Bengaluru, following a short circuit in the UPS room at the hospital today. Patients have been shifted from the site of the incident, as a precaution," the fire department in Bengaluru said.

"No fire incident reported and the situation is under control now," the fire department said.

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