Sandesaras' trial ends after Rs.5.1K-cr deposit
India, Dec. 18 -- The Supreme Court on Wednesday gave final clearance to quash all criminal proceedings against fugitive promoters of Sterling Biotech Ltd, Chetan Jayantilal Sandesara and Nitin Sandesara, after the brothers deposited an additional Rs.5,111 crore in compliance with an earlier assurance given to the court to settle the claims of lender banks in a multi-crore bank fraud case. The court noted the deposits were made between December 3 and December 6 in the registry of the Supreme Court. The court on November 19 agreed to quash criminal proceedings against the brothers, subject to their depositing Rs.5,100 crore to meet the demands of banks.htc...
To read the full article or to get the complete feed from this publication, please
Contact Us.