Sandesara group case | Enforcement Directorate attaches assets worth ₹20.77 crore

Enforcement Directorate logo. File

Enforcement Directorate logo. File | Photo Credit: Twitter@dir_ed

The Enforcement Directorate has attached assets worth ₹20.77 crore, taking the total value of attachment in the Sandesara group case so far to about ₹14,690. 95 crore.

The latest ED order pertains to five immovable properties, five bank accounts and shares belonging to Shimnit Utsch India Private Limited and its directors. Investigations revealed that the Sandesara group had allegedly diverted ₹55.13 crore to the accounts of Shimnit Utsch India Private Limited in the garb of share application money. About ₹3.50 Crore was still with the Shimnit group and its promoters/directors.

Through 13 orders, the ED had earlier attached movable and immovable properties worth ₹14,523 crore. As on date, a charge sheet and five supplementary charge sheets have been filed in the case against the accused persons and four arrests have been made.

Accused Nitin Sandesara, Chetan Sandesara, Dipti Chetan Sandesara and Hitesh Patel have been declared fugitives under the Fugitive Economic Offenders Act by a special court.

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Printable version | Aug 5, 2022 7:20:09 pm |