Home Crime Hitesh Patel, accused in the Sterling Biotech case, detained in Albania, likely to be extradited soon

Hitesh Patel, accused in the Sterling Biotech case, detained in Albania, likely to be extradited soon

The Interpol had issued a red corner notice against Hitesh Patel and others on March 11.

The Enforcement Directorate sources have reported that Hitesh Patel, one of the promoters of Sterling Biotech, has been detained in the European country of Albania. Patel, along with several others, is accused of loan fraud against a consortium of banks led by Andhra Bank to the tune of Rs 5500 crore.

A Red-Corner notice was issued against him on the 11th of March. He has been detained by Albania’s National Crime Bureau-Tirana. He is also expected to be extradited to India soon.

Hitesh Patel is the brother-in-law of Nitin Sandesara and Chetan Sandesara, the main accused in the case. All of the promoters had fled the country after the Sterling Biotech fraud exploded, to evade investigation.

- Advertisement - - Article resumes -

In October last year, ED had filed a plea before a special court of the Prevention of Money Laundering Act (PMLA), seeking to declare all accused, including Patel, as fugitives under Section 4 of the Fugitive Economic Offenders Act.

ED in the charge sheet filed under PMLA had charged Sandesaras and others with money laundering and siphoning of bank loans. According to the complaint, the Sandesaras and others had hatched a criminal conspiracy to cheat banks and obtain a higher amount of loan. These loans were allegedly diverted for other purposes through a web of shell companies. Senior Congress leader Ahmed Patel’s name has also surfaced in the case.

ED has so far confiscated assets worth Rs 4700 crores belonging to the Sterling Biotech group.

The agencies have been able to nab four people in the case, including a man named Rajiv Dhawan who was alleged to have sent Rs 25 lakhs to the house of Congress leader and Gandhi family loyalist Ahmed Patel’s home. An employee of Sandesara group, Sunil Yadav too had alleged the involvement of Patel, his son, Faisal Patel, and his son-in-law, Irfan Siddiqui in the same fraud. Other people arrested include Delhi businessman Ranjeet Malik, former director of Andhra Bank Anup Garg and director of Sterling Biotech RB Dixit.

Sharing is caring - Share This Post and Support:
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.


Most read articles recently

Here is what RVS Mani, bureaucrat of Congress era, has to say about Hemant Karkare and his involvement in ‘Saffron terror’ narrative

With reference to Hemant Karkare, RVS Mani makes some startling revelations in his book.

Cambridge University confirms that Rahul Gandhi did his M.Phil using the name Raul Vinci

Cambridge University confirms that Rahul Gandhi did his MPhil using the name Raul Vinci

Read details: Rahul Gandhi lands in a soup over his Amethi nomination, scrutiny postponed after questions raised on his British citizenship

After four objections filed against Rahul Gandhi's nomination from Amethi, scrutiny of his nomination postponed by 2 days

Convenor of Delhi Congress IT cell shares badly edited video accusing PM Modi of using an abusive word

Congress' Gaurav Pandhi has earlier also spread misinformation to attack the central government

With Rahul Gandhi contempt notice up for hearing, CJI says allegations to dissuade him for hearing important cases

CJI Gogoi also said, in response to the sexual harassment allegations, that this is a pressure tactic to dissuade him from hearing important cases that are up for hearing next week.

Air Vistara feels honoured to have decorated war vetaran Major Gen G D Bakshi onboard, ‘liberals’ decide to shame them

'Liberals' decide to switch loyalties to another airline after Air Vistara feels honoured to have Major Gen G D Bakshi onboard

Samajwadi Party friendly ‘journalist’ associated with The Wire caught spreading lies about Yogi Adityanath, deletes tweet after getting called out

Rohini Singh, who is notoriously known for her propaganda, along with her colleague Prashant Kanojia, has yet again posted fake news to target the UP Chief Minister Yogi Adityanath.

‘Liberals’ bully Air Vistara into deleting their tweet honouring decorated war veteran onboard

Bowing down to the pressure of the bullies masquerading as liberals, Air Vistara has deleted the picture. 

Chief Justice of India alleges ‘larger plot’ and pressure tactics after leftist websites break story of alleged sexual harassment

Today, the Chief Justice of India, Ranjan Gogoi was accused of sexual harassment by a former employee.

Latest articles

Connect with us

156,524FansLike
129,274FollowersFollow
54,113SubscribersSubscribe

Don't miss these

Sharing is caring - Share This Post and Support: