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ED moves court to declare Sandesara brothers fugitives

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New Delhi, Oct 26 (IANS) The Enforcement Directorate (ED) on Friday urged the court to declare Gujarat-based businessmen Sandesara brothers as fugitives and permit it to confiscate their properties in India and abroad in connection with a Rs 8,100 crore taken by them and their pharmaceutical company from domestic and offshore branches of Indian banks in 2004-12.

Besides Chetan Jayantilal Sandesara and Nitin Jayantilal Sandesara, known as Sandesara brothers, the ED asked the court to issue an order declaring their relative Dipti Sandesara and an associate Hitesh Patel also as fugitives, an agency official said.

“We moved the court to declare the promoters of Sterling Biotech group as fugitives and confiscate their properties in India and abroad under section 4 of Fugitive Economic Offenders Act,” said the official.

The ED took the step as the Sandesara brothers were believed to be abroad.

The agency’s move comes three days after it filed a chargesheet under the anti-money laundering law naming 191 accused and 184 companies of the Sterling Biotech group which includes Sterling Biotech Ltd, PMT Machines Ltd, Sterling SEZ and Infra Ltd, Sterling Port Ltd, Sterling Oil Resources Ltd and 179 shell companies.

The Sandesara brothers and one Rajbhushan Dixit, their chartered accountant Hemant Hathi and middlemen Gagan Dhawan were also named in the chargesheet.

Action under the Fugitive Economic Offenders Law shall be initiated soon against the Sandesara brothers and a Red Corner Notice shall be issued, said the ED.

The agency registered a money laundering case against the SBL group, Sandesara brothers and others in August 2017, days after a case of alleged bank fraud of Rs 5,700 crore was filed against them by the Central Bureau of Investigation.

Investigation by the ED revealed that Sandesara brothers and others hatched a criminal conspiracy to cheat banks by manipulate figures in the balance sheets of their flagship companies to induce banks to sanction higher loans.

“After obtaining loans, the accused diverted them to non-mandated purposes through a web of shell companies. Thus, the loan funds were diverted, layered and laundered by the promoters for personal purposes. Total amount of loan fraud as on date is Rs 8,100 crore,” said another ED official.

Loans to the tune of Rs 5,700 crore was disbursed by various banks from 2004 to 2012.

The ED said the banks have also declared the loans to the tune of Rs 8,100 crore as fraud (domestic loans Rs 3,675 crore and foreign loans Rs 4,425 crore).

The ED said it had arrested four persons in the case including a Delhi-based businessman-cum-middleman Gagan Dhawan, Ex-Director of Andhra Bank Anup Garg, Director of SBL R.B. Dixit and Ranjeet Malik, an aide to Dhawan.

The ED has so far attached assets to the tune of Rs 4,710 crore in the case.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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