CBI’s wanted convict, accused of ₹5000 crore fraud, Nitin Sandesara escapes to Nigeria

Must Read

President Ram Nath Kovind appoints new governor for Kerala, Telangana, Himachal Pradesh and Maharashtra

President Ram Nath Kovind appointed new governors for Maharashtra, Kerala, Telangana, Rajasthan, and Himachal Pradesh on Sunday. https://twitter.com/ANI/status/1168037199767457792 Former Union Minister Kalraj...

NRC list for Assam released; Fear looms as 19 lakh people face exclusion

NRC (National Register of Citizens) for Assam has been published at 10 am today. The final list excludes over...

Lateral Entry Era Begins as Union govt. appoints 9 professionals to Joint Secretary posts

The government has appointed its first batch of private professionals to the post of Joint Secretary in various ministries....

A recent update on ₹5000 crore fraud by Nitin Sandesara revealed that the businessman along with his family might have escaped to Nigeria. In contrary, CBI wanted businessman was supposedly detained by UAE authorities in Dubai in August this year.

A source told TOI that the buzz about the detainment of Nitin Sandesara by UAE authorities was incorrect rather he along with his family escaped UAE much before that. It might be difficult for ED and CBI to catch Nitin Sandesara as India does not have a Mutual Legal Assistance Treaty with Nigeria.

Although, the government might request UAE authorities to arrange a provisional arrest in case he is caught.

The ₹5000 crore fraud by Businessman Nitin Sandesara

Nitin Sandesara launched 300 shell companies to divert loans acquired illegally through banks. The CBI booked a case for creating shell companies, window dressing turnover, and manipulating balance sheets.

The Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) alleged directors of  Sterling Biotech Nitin Sandesara, Chetan Sandesara, Diptiben Sandesara, Rajbhushan Omprakash Dixit, Vilas Joshi, along with chartered accountant Hemant Hathi, former Andhra Bank director Anup Garg against laundering money of worth ₹5000 crore by cheating banks.

Gagan Dhawan and Garg were caught by ED under the case along with ₹4700 crore assets.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Injured Nadal pulls out of final two Laver Cup matches

Geneva, Sep 22 (IANS) US Open champion and tennis star Rafael Nadal withdrew from his matches at the Laver...

Congress, Rahul ‘playing politics’ on J&K, says Shah (Lead)

Mumbai, Sep 22 (IANS) Union Home Minister Amit Shah on Sunday attacked the Congress and its former President Rahul Gandhi in the issue of...

Chinmayanand case: In which both parties are culprits and victims

By Sanjeev Kumar Singh ChauhanShahjahanpur, Sep 22 (IANS) Call it the power of the ubiquitousness of technology. The rape and blackmail of the Shahjahanpur...

Carolina Marin caps comeback from injury with China Open win

Changzhou (China), Sep 22 (IANS) Olympic champion Carolina Marin on Sunday beat Taiwanese former world no.1 Tai Tzu Ying to win a second consecutive...

Modi to address Indian diaspora at ‘Howdy Modi!’

Houston, Sep 22 (IANS) Prime Minister Narendra Modi on Sunday would attend the mega 'Howdy Modi!' event being organised at the NRG stadium here...
- Advertisement -

More Articles Like This