Banking on a bargain
November 28, 2025
|Business Standard
Sandesara settlement raises important questions
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The Supreme Court’s recent order closing all criminal cases against Anmedabad-based Sterling Biotech’s fugitive promoters Nitin and Chetan Sandesara if they deposit 5,100 crore by December 17 has raised critical questions concerning the treatment of businesspeople who abscond with large sums of public money.
The order refers to a onetime settlement that the promoters had agreed to repay a consortium of banks in return for the state to quash all criminal proceedings against them, including their designation as economic offenders. The brothers, who had managed to abscond on the Albanian passport in 2017 and were running an oil and gas business in Nigeria, had a long list of cases against them filed by the Central Bureau of Investigation, Enforcement Directorate, Serious Fraud Investigation Office, and the Income Tax Department.
هذه القصة من طبعة November 28, 2025 من Business Standard.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
هل أنت مشترك بالفعل؟ تسجيل الدخول
المزيد من القصص من Business Standard
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