Delhi court declares 4 promoters of Sterling Biotech as fugitive economic offenders
New Delhi: A Delhi court on Monday declared four directors of a Gujarat pharma firm, Sterling Biotech Ltd (SBL), "fugitive economic offenders" in a Rs 8,100-crore bank fraud case.
Additional Sessions Judge Dharmender Rana passed the order on a plea filed by the Enforcement Directorate (ED).
"I have no hesitation in observing that this court is satisfied that the Petitioner has successfully pleaded and proved that the Respondents herein are fugitive economic offenders.
"It is hereby declared that accused Nitin Jayantilal Sandesara, Chetan Jayantilal Sandesara, Dipti Chetan Jayantilal Sandesra and Hiteshkumar Narendrabhai Patel are fugitive economic offenders," the judge said.
Additional Solicitor General S V Raju, appearing for the ED, had told the court that accused had fled from the country and were evading the process of law to face criminal prosecution.
The agency, also represented by special prosecutor Nitesh Rana, had moved the plea seeking to declare the accused as fugitive economic offenders and for confiscation of their properties.
Read also: Sterling Biotech Rs 8100-crore bank loan fraud case reassigned to same judge who recused earlier
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