Nitin Sandesara, an absconding director of a Gujarat-based pharma company and a close aide of Sonia Gandhi’s confidante Ahmed Patel has been arrested by the Dubai police in a Rs. 5,000 crore fraud case. An Indian court has issued a non-balliable warrant against Nitin Sandesara and that warrant became the basis of his arrest by the Dubai police.
According to an Economic Times report, an official said, “The legal process post the arrest is taking place in Dubai. We are waiting for details. Indian agencies will try to get him deported.”
Nitin Sandesara’s company has been under the scanner as it is alleged that the company took loans of over Rs. 5,000 crore from a consortium led by Andhra Bank, but the loan has turned into non-performing asset (NPA).
The Enforcement Directorate (ED) had written to the ministry of External affairs in March seeking revocation of passports of the fugitive businessmen Nitin and Chetan Sandesara, who last year fled the country with family members before the CBI could file a case against them. The Times Now news reported, according to senior ED officials, the Sandesara group allegedly cheated several banks and its total outstanding against banks and investors may go beyond Rs 10,000 crore.
The ED has also detained few people in this case which also includes Delhi-based businessman Gagan Dhawan, Sterling Biotech Ltd director Rajbhhushan Dixit and former director of Andhra Bank, Anup Garg.
It was in 2011 that for the first time Nitin and Chetan Sandesara came under the radar of investigating agencies. Income tax raid at pharmaceutical firm Sterling Biotech had led to the recovery of a diary which allegedly had a list of payoffs to several high-profile people including politicians and their relatives, tax officials and a senior police officer.
The ED further broadened the scope of its investigation, during its probe the name of senior Congress leader Ahmed Patel also surfaced. Earlier this month, the ED told a Delhi court that it has evidence of alleged bribe of Rs 25 lakh delivered at the residence of senior Congress leader and Rajya Sabha Member, Ahmed Patel.
The ED maintained that they had recorded the statement of a man called Rakesh Chandra who said that he worked as a cash courier for Ranjit Malik. Rakesh Chandra also spoke about delivering 25 lakh cash to 23, Mother Teresa Crescent Road. It is the official residence of senior Congress leader Ahmed Patel.
ED officials also told the court that along with witness statement they also have “telephonic chats and financial transactions” as proof to back up the charges in the case.
If the charges against Ahmed Patel are proved then the Congress party would be in a serious trouble considering the power and influence of Ahmed Patel both inside and outside of the Congress party. The ED is also investigating the case extensively and trying to dig out as many as scammers are involved in this 5000 crores bank fraud case. The company and its directors are being probed thoroughly. In connection with the bank fraud case, the CBI has booked Sterling Biotech company’s directors Chetan Jayantilal Sandesara, Dipti Chetan Sandesara, Rajbhushan Omprakash Dixit, Nitin Jayantilal Sandesara and Vilas Joshi, chartered accountant Hemant Hathi and some unidentified persons.