Sunday, Jan 29, 2023

Sterling Biotech


I-T moves against founders of Sterling Biotech named in Pandora Papers

November 02, 2021 7:56 am

Sources said the tax authority filed a case in a local court against Sterling Biotech and the Sandesaras on September 6, under sections 50 and 56 of the Black Money Act.

Sterling Biotech case: ED attaches assets of Patel son-in-law, Bollywood actors

July 03, 2021 7:23 am

The ED said the attachments included eight immovable properties, three vehicles, and several bank accounts, shares and mutual funds—all of which have a cumulative value of Rs. 8.79 crore.

No SC relief for Sterling Biotech on one-time settlement to banks

February 26, 2021 5:25 am

A Bench of Justices R F Nariman and B R Gavai dismissed the application filed by SBL-owned Richmond Investments Ltd, seeking the relief.

ED summons Dino Morea and DJ Aqueel in Sterling Biotech case

July 02, 2019 7:07 am

Widening its probe into the Rs 8,000 crore Sterling Biotech loan fraud case, the Enforcement Directorate (ED) has summoned Bollywood actor Dino Morea and DJ Aqeel for questioning.

Sterling Biotech case: ED attaches assets worth over Rs 9,000 crore

June 26, 2019 1:33 pm

It is alleged that the company took loans of over Rs 5,000 crore from a consortium led by Andhra Bank, which had turned into non-performing assets. The total volume of the alleged loan defraud is pegged at Rs 8,100 crore.

Sterling Biotech: Accused Hitesh Patel detained in Albania, likely to be extradited to India soon

March 22, 2019 2:13 pm

The company, owned by the Sandesara family from Vadodara, is alleged to have defaulted on loans amounting to Rs 8,100 crore taken from a consortium of banks.

NCLT to Sterling Biotech lenders: How can you accept settlement plan of absconder

March 16, 2019 4:35 am

Sterling Biotech was referred to the NCLT in June last year for insolvency proceedings under the Corporate Insolvency Resolution Process (CIRP).

Court issues open-ended NBWs against Sterling Biotech owners in Rs 8,100-cr bank loan fraud case

January 05, 2019 1:43 pm

The ED has registered the alleged bank fraud case against the firm SBL under sections of the Prevention of Money Laundering Act (PMLA). The accused are also being probed by the ED for allegedly bribing senior income tax department officials as part of an earlier criminal complaint.

Sterling Biotech case: Termed 'proceeds of money laundering' Rs 4,701 cr assets attached

December 07, 2018 4:37 am

The attached assets include immovable property like farmhouses, factory premises and apartments across Gujarat and Mumbai.

Delhi court issues notice to Sterling Biotech owners

October 27, 2018 3:30 am

ED in its application under Fugitive Economic Offenders Act said that Sterling Biotech group obtained loan facilities of more than Rs 5,000 crore from banks and financial institutions, all had turned non-performing assets (NPA).