Friday, August 7, 2020
Home News Reports ED summons Congress leader Ahmed Patel’s son Faisal Patel in Sterling Biotech bank fraud...

ED summons Congress leader Ahmed Patel’s son Faisal Patel in Sterling Biotech bank fraud case

Several persons questioned by ED in relation with the case had revealed the involvement of Ahmed Patel, his son, Faisal Patel, and his son-in-law, Irfan Siddiqui in the scam.

The Enforcement Directorate has summoned Faisal Patel, son of senior Congress leader Ahmed Patel, in the Sterling Biotech money laundering case. Faisal Patel is being probed by the ED for his links with the Sandesara brothers, the owners of the pharmaceutical company, who are accused in a ₹5,000 crore fraud case.

The ED has asked Faisal Patel tor appear for questioning on Thursday.

On July 30 this year, the ED had also grilled Ahmed Patel’s son-in-law and advocate Irfan Siddiqui in connection with the case.

Sterling Biotech is under investigation as it had taken a loan worth Rs. 5,000 crores from a consortium of banks including Andhra Bank, but the loan has turned into a non-performing asset (NPA). According to ED, the Sandesara group allegedly cheated several banks and its total outstanding against banks and investors may go beyond Rs 10,000 crore.

As per the chargesheet filed in the case, owners of Sterling Group, Nitin Sandesara and Chetan Sandesara, had floated close to 300 shell companies to fraudulently move and layer the loan money abroad.

During the probe by ED, the group’s links with Ahmed Patel was revealed. Several persons questioned by ED in relation with the case had revealed the involvement of Ahmed Patel, his son, Faisal Patel, and his son-in-law, Irfan Siddiqui in the scam.

Sunil Yadav, an employee of the Sandesara group, had said that he had handed over cash to Faisal Patel’s chauffeur and that the cash was to be delivered to Ahmed Patel’s son on behalf of Chetan Sandesara.

The CBI had booked Sterling Biotech, its directors and senior officials, and some unidentified persons in connection with the alleged bank fraud case. The FIR alleged that the total pending dues of the group companies were Rs 5,383 crore as on December 31, 2016.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Senior lawyer K Parasaran who fought Ram Mandir case is not on Twitter, colleagues clarify after fake account gets followers

One of those heroes who rose to the challenge and was instrumental in the reclamation of Ram Janmabhoomi is 93-year-old K Parasaran, who successfully led the legal fight of Hindus

Palghar case: Maharashtra govt to file status report, SC asks for inquiry report against cops who handed over Sadhus to mob

SC asked the Maharashtra govt to file a status report in connection with the brutal lynching of two Hindu sadhus and their driver in Palghar on April 16.

Muslims chose to stay back in India: An analysis of the mythical, unsubstantiated trope that is used to make Hindus feel guilty

Muslims who stayed back in India after the partition, did not primarily do so out of their innate love for mother India

Soil from ancient Sharda Peeth in PoK was also used in Ram Mandir Bhoomi Pujan: Read how VHP and some dedicated devotees managed that

This Sharada Peeth is significantly important for Hindus because it is said to be one among the 18 Maha Shakti Peethas.

Assam: Ram Mandir Bhoomi Pujan celebration by Bajrang Dal attacked by Muslim locals, curfew imposed

The Muslim locals allegedly objected to the Bajrang Dal members chanting slogans and playing music. The arguments soon led to a violent clash.

Ram Janmabhoomi movement: Three sacrifices that can never be forgotten

Five hundred years of struggle went into Ram Janmabhoomi moment. There would be so many heroes that it is impossible to remember them all.

Recently Popular

Twitter user arrested by Maharashtra police for criticising the Uddhav Thackeray govt on social media

Mumbai Police arrested Twitter user Sunaina Holey for posting against Maharashtra CM and his son, to be presented in court today

Here is why #BabyPenguin is trending on Twitter, and why Aaditya Thackeray is called so by some

Yuva Sena registered complaint against twitter user for calling Aaditya Thackeray "Baby Penguin" and Uddhav Thackeray "Aurangzeb"

While most Bollywood actors and cricketers chose not to welcome Ram Mandir, here are the ones who did not shy away

Only a few actors and sportspersons celebrated Ram Mandir Bhoomi Pujan and shared wishes on social media.

Muslims chose to stay back in India: An analysis of the mythical, unsubstantiated trope that is used to make Hindus feel guilty

Muslims who stayed back in India after the partition, did not primarily do so out of their innate love for mother India

TV actor Sameer Sharma found hanging from the kitchen ceiling, case of accidental death registered

After body of Sameer Sharma was recovered from his house, a case of accidental death has been registered by the Malad police

Maulana from All India Imam Association threatens that ‘believers of justice’ will demolish Ram Mandir and rebuild disputed structure

Maulana Rashidi stated that the Ram Mandir will one day be demolished and a disputed structure will be rebuilt.

Senior lawyer K Parasaran who fought Ram Mandir case is not on Twitter, colleagues clarify after fake account gets followers

One of those heroes who rose to the challenge and was instrumental in the reclamation of Ram Janmabhoomi is 93-year-old K Parasaran, who successfully led the legal fight of Hindus

Trump signs executive order to ban TikTok, WeChat in 45 days, cites India’s example

In his executive order, Donald Trump also cited the example of India and the 'digital strike' carried out on 59 Chinese apps in June this year.

BMC releases Bihar IPS officer Vinay Tiwari after forcefully putting him in quarantine, but with conditions: Here is what he needs to do

The BMC has stated that it will free the senior police officer from the quarantine centre on a condition that he would leave the city before August 8.

Palghar case: Maharashtra govt to file status report, SC asks for inquiry report against cops who handed over Sadhus to mob

SC asked the Maharashtra govt to file a status report in connection with the brutal lynching of two Hindu sadhus and their driver in Palghar on April 16.

Enraged over being ‘taken to Mosque for Talaq’, Kaleem slits his wife’s throat in Bengaluru: Read details

According to Deputy Commissioner of Police ( South Bengaluru) Harish Pandey, the couple has been fights over money and the husband's allegation that Nazneen had an affair.

Pakistan borrows $1 Billion from its all-weather ally China to repay $1 Billion Saudi Arabia loan to avoid default on international debt obligations

China tightens its grip over Pakistan, gives $1 billion loan to repay Saudi Arabia's $1 billion loan, grants 90% of $6.8 billion railway project

CBI registers case against Rhea Chakraborty, her family and aides in Sushant Singh Rajput death case

CBI files case against Rhea Chakraborty, her father, mother, brother and 2 others in Sushant Singh Rajput's death case

‘As a CM I have no problem with any religion, but as a yogi, I will not go for a Mosque’s ground-breaking ceremony’: Yogi...

When asked whether he will attend ground-breaking ceremony for the mosque at Ayodhya, Yogi Adityanath said that he will not be invited

Complaint filed against Maulana Sajid Rashid for inciting Muslims to demolish Ram Mandir at Ayodhya

President of the All India Imam Association Sajid Rashidi had said that a mosque will be rebuilt after demolishing the Ram Mandir

15th EU-India Summit: Promising an opportunity for India in the post-COVID world

The 15th EU-India Summit was held in the virtual space, which can be called the Covid-19 era normal. Before the pandemic made its presence felt, this Summit was planned to be held in March in Brussels.

Connect with us

239,250FansLike
423,225FollowersFollow
291,000SubscribersSubscribe