Wednesday 19 December 2018
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business-standard - 13 days ago

ED to seek extradition of S take possession of Rs 4,710-cr assets

The Enforcement Directorate (ED) has decided to seek Interpol arrest warrants and make extradition requests against the Sandesara family, promoters of a Gujarat-based pharmaceutical firm accused in a Rs 8,000 crore bank fraud case, the agency said on Thursday. The ED added it has obtained a confirmation, from the Adjudicating Authority of the PMLA, on its attachment of Rs 4,710 crore worth of assets in this case. The central probe agency had attached various movable and immovable assets of the group and its directors Nitin Sandesara, Chetan Sandesara, Dipti Sandesara and others in May this year under the Prevention of Money Laundering Act (PMLA). With the approval of the Authority on this order, the agency will now start the process to take possession of these properties, till the case is finally decided by a court. These assets are located in the states of Maharashtra, Gujarat, Karnataka and Delhi. ED is also in the process to issue red corner notices against the key directors of ...

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