ED team reached to question senior Congress leader Ahmed Patel in scam case
A team of the Enforcement Directorate (ED) arrived at his house today to question senior Congress leader Ahmed Patel in the Sandesara scam case. The agency had called him for questioning but said that he was a senior citizen and could not come for questioning due to the Kovid-19 guideline.
A team of the Enforcement Directorate (ED) arrived at his house today to question senior Congress leader Ahmed Patel in the Sandesara scam case. The agency had called him for questioning but said that he was a senior citizen and could not come for questioning due to the Kovid-19 guideline. The Sandesara brothers have licked Indian banks more than Nirav Modi.
This is the claim of the Enforcement Directorate (ED). Sources in this central agency said that during the investigation, Sterling Biotech Ltd. (SBL) / Sandesara Group and its main promoters, Nitin Sandesara, Chetan Sandesara, and Deepti Sandesara, have committed fraudulent transactions of about Rs 14,500 crore with Indian banks while Nirav Modi is accused of giving a blow of Rs 11,400 crore to Punjab National Bank.
The CBI had registered an FIR against the company and its promoters in October 2017 on charges of bank fraud worth Rs 5,383 crore. After that, the ED also sued. According to sources, during the investigation, it was found that the foreign companies of the Sandesara Group had taken a loan of 9 thousand crore rupees from foreign branches of Indian banks.
Loans in foreign currency
The investigating officer said that SBL Group had taken loans from Indian banks in rupees as well as foreign currency. The group was passed a consortium of banks led by Andhra Bank, UCO Bank, State Bank of India (SBI), Allahabad Bank and Bank of India (BOI).
During the investigation, it was also found that the loan amount was used beyond permission and transferred some amount from there through fake domestic and foreign institutions. The main promoters not only invested the loan amount in their oil business in Nigeria but also used it for personal purposes. The ED seized assets worth Rs 9,778 crore of SBL / Sandesara Group on 27 June.
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