Rs.5000 Cr Pharma Fraud: Nitin was never detained in Dubai states ED

New Delhi: The absconding Gujarat based Pharma company’s director Nitin Sandesara was reported to have been arrested from Dubai last month in connection with Rs 5,000 crore fraud case but according to sources he was never arrested and has likely flown to Nigeria.

According to CBI and ED sources, Nitin was never detained in UAE. An official working on the case said: “There were reports that Nitin Sandesara was detained by UAE authorities in Dubai in the second week of August. The information was incorrect. He was never detained in Dubai. He and other family members probably left for Nigeria much before that.”

An FIR has been filed by the CID against Sterling Biotech and its Directors Chetan Jayantilal Sandesara, Dipti Chetan Sandesara, Rajbhushan Omprakash Dixit, Nitin Jayantilal Sandesara and Vilas Joshi, CA Hemant Hathi, former director Andhra Bank Anup Garg and some other unidentified persons in connection with Rs 5,000 crore pending dues in the alleged bank fraud case, News18 reported.

The company is alleged that it took loans of over Rs 5,000 crore from a consortium led by Andhra Bank. Since the pending dues amount to Rs 5,383 crore as on December 31, 2016 the ED has taken the FIR into cognizance and are probing the fraud case.

Taking action in the case the ED has arrested few people in connection with the case including Delhi-based businessman Gagan Dhawan, former Andhra Bank director Anup Garg and Sterling Biotech Ltd director Rajbhhushan Dixit.

While Sandesara’s absconding family including brother Chetan Sandesara and sister-in-law Diptiben Sandesara are likely hiding in Nigeria.

Assets worth Rs 4,700 crore of the pharma company has been attached.

The officials previously stated Sandesara was arrested by Dubai police based on a non-bailable arrest warrant issued by an Indian court in August.