The Enforcement Directorate on Thursday conducted searches against four persons in connection with the money laundering case against Gujarat-based Sterling Biotech Limited and others for allegedly cheating public sector banks to the tune of ₹5,383 crore.
“The searches were carried out on seven premises linked to Sanjeev Mahajan, Ghanshyam Pandey, Lakshmi Chand Sharma and Arvind Gupta. The first three were employees of Sterling Biotech group companies,” an official said. The agency suspects that electronic evidence related to the transaction records were manipulated or destroyed.
