Rs 5000 crore Bank fraud: Has Nitin Sandesara, Sterling Biotech director, wanted in multi-crore fraud case fled to Nigeria?
Rs 5000 crore Bank fraud: Has Nitin Sandesara, Sterling Biotech director, wanted in multi-crore fraud case fled to Nigeria?
Nitin Jayantilal Sandesara, the absconding Sterling Biotech director, a Gujarat-based pharma company may have fled to Nigeria. Sandesara is wanted in Rs 5, 000 crore bank fraud case is on run and not in Dubai as per media reports. He was wanted by CBI and ED and was detained in Dubai, and now may have fled to Nigeria.
Nitin may have fled with his brother Chetan, sister in law, Dipti besides other family members are believed to be in Nigeria, according to media reports. India doesn’t have an extradition treaty or a Mutual Legal Assistance Treaty with Nigeria and bringing them back from the African country would be difficult, TOI reported.
However, investigating agencies are planning to send a request to authorities in the United Arab Emirates (UAE) seeking a ‘provisional request’, the TOI report said. "The legal process post the arrest is taking place in Dubai. We are waiting for details. Indian agencies will try to get him deported," a senior official said.
An officer, who didn’t wish to be named, said, “There were reports that Nitin Sandesara was detained by UAE authorities in Dubai in the second week of August. It was incorrect information. He was never detained in Dubai. He and other family members probably left for Nigeria much before that.”
The CBI and ED have booked Nitin Sandesara and several others for cheating banks of Rs 5000 crore.