Several accused in the Sterling Biotech case, in which the company and its directors face allegations of having cheated public sector banks (PSBs) of ₹5,383 crore, have gone underground, according to investigating agencies.
Suspecting that the accused may attempt to flee the country, the Enforcement Directorate has initiated measures to get arrest warrants against them. The agency may also get look-out circulars issued against them. “We had summoned some of the accused, who did not turn up. Therefore, we have decided to approach the competent court for getting arrest warrants against them,” said an ED official.
The CBI had earlier registered a cheating case against Sterling Biotech, its directors Chetan Jayantilal Sandesara, Dipti Chetan Sandesara, Rajbhushan Omprakash Dixit, Nitin Jayantilal Sandesara and Vilas Dattatray Joshi, chartered accountant Hemant Hathi and the then Andhra Bank Director Anup Garg. The ED also initiated a money laundering probe.
