Sterling Biotech: Can SC ruling aid other fugitives?

The Supreme Court's decision to close all cases against the Sandesara brothers of Sterling Biotech Ltd, after they agreed to pay ₹5,100 crore, triggered a debate on whether other fugitives could use this ruling. Mint looks at whether Vijay Mallya and Nirav Modi can seek relief, too.

- BY KRISHNA YADAV

1 What was the Supreme Court's order?

In its 19 November order, SC accepted a settlement proposal from the Sterling Biotech promoters Nitin and Chetan Sandesara. SC said all cases filed by Central Bureau of Investigation and by Enforcement Directorate, Serious Fraud Investigation Office, and Income Tax Department under Black Money Act and Fugitive Economic Offenders Act, will be closed once the Sandesaras deposit ₹5,100 crore with it by 17 December. The bench noted the order should not operate as a precedent. The money will be placed in a short-term interest bearing fixed deposit and distributed to banks.

2 What was the Sandesara fraud?