Enforcement Directorate records Faisal Patel’s statement

The Enforcement Directorate on Thursday recorded Congress leader Ahmed Patel’s son Faisal Patel’s statement in the Sterling Biotech Limited case.

The agency examined Mr. Faisal Patel twice last week under the Prevention of Money Laundering Act. The probe is based on two FIRs registered by the Central Bureau of Investigation against Sterling Biotech and others in October 2017, one pertaining to the alleged routing of funds belonging to unknown officials of the Income Tax Department and the other to the default of ₹8,100 crore in bank loan.

The promoters of the Vadodara-based company, including Chetan and Nitin Sandesara, went underground soon after the cases were instituted. Until recently, they were suspected to be in Albania, where their brother-in-law Hitesh Patel was detained in March.

The Enforcement Directorate has so far attached assets worth ₹14,508 crore in the loan default case. The assets include four oil rigs and an oil field in Nigeria, several ships listed with Panama authorities, an aircraft registered in the United States and a flat in London.

The Interpol is yet to issue a Red Notice against the Sandesaras at the request of Indian agencies.

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Printable version | Mar 6, 2021 9:34:44 PM |

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