Goa nightclub fire: Delhi court grants 48-hour transit remand of Luthra brothers to police
BPSC 70th Mains Result 2025 declared at bpsc.bihar.gov.in; 5,401 candidates qualified for interview, get direct LINK for PDF here
Assam CM hits back at Bangladesh’s leader threatening to ‘separate’ North-East states from India, ‘idea is misguided...’ 
Meet man who played key role in Reliance's growth, 'third son' of Dhirubhai Ambani, very close to Mukesh Ambani, his business is...
No mention of India, Indian Army as Bangladesh celebrates independence from Pakistan, victory over Pakistan Army 
Who is Mangesh Yadav? Left-arm speedster from MP T20 League joins Virat Kohli's RCB at Rs 5.2 crore
IPL's costliest overseas star Cameron Green faces long-term kidney condition - Know about the disease
Who is Kartik Sharma? Rajasthan teen becomes joint most expensive uncapped player in IPL history, bought by CSK for Rs 14.20 crore
Who is Emily Redwood? Australia’s all-rounder Cameron Green’s girlfriend who is also a... 
Who is Auqib Nabi Dar? J-K uncapped star pacer sold to Delhi Capitals for Rs 8.40 crore after fierce IPL 2026 auction war
Not Dhurandhar, Chhaava, Saiyaara, Thamma; documentary on this 2025 Bollywood superhit film to release in cinemas this Friday
Manju Warrier breaks silence after ex-husband Dileep's acquittal in sexual assault case: 'Justice will be complete only when...'
Inside Sejal Kumar’s simple wedding: Here’s why influencer chose graceful saree over heavy bridal wear, SEE pics
Meet Preetisheel Singh, India's top makeup artist, styled Ranveer Singh's Hamza look in Dhurandhar, made it different from his Khilji avatar by...
Kannada film producer allegedly kidnaps actress-wife over 1-year-old daughter's custody in Bengaluru, shocking details inside
BIhar CM Oath Ceremony: Nitish Kumar Takes Oath As Bihar Chief Minister For 10th Time I Bihar News
Bihar Election 2025: Who Is Bihar Voting For? Bihar Exit Polls Reveal Party Wise Vote Share
Bihar Exit Poll: NDA Or Mahagathbandhan, Who's Winning Bihar Election 2025? Exit Polls Reveal
Bihar Exit Poll: NDA Alliance Forecast To Win Big, Mahagathbandhan Will Lose? Bihar Election 2025
Bihar Election 2025: Record Breaking Turnout With 67.14% In Bihar Elections Phase 2 | Bihar NewsMeet man who played key role in Reliance's growth, 'third son' of Dhirubhai Ambani, very close to Mukesh Ambani, his business is...
Mukesh Ambani's Reliance Group gets BIG investment of Rs 60065 crore from this govt company, its business is...
Mukesh Ambani's BIG move as he relaunches 75-year-old brand to mark entry into...
Why is Indian rupee continuously falling? Know 6 major factors and impact on Indian households
THIS billionaire becomes first-ever to hit USD 600 billion net worth, not Jeff Bezos, Mark Zuckerberg, Warren Buffett or Mukesh Ambani, he is...
Meet Medha Rana, Varun Dhawan's heroine in Border 2, 12 years younger than him, has army background, debuted with Arjun Rampal in...
From Kartik Sharma to Auqib Nabi Dar: Uncapped Indian stars who sparked big bids at IPL 2026 auction 
Delhi pollution: Air quality turns 'toxic', try these breathing techniques to protect your lungs
From Kartik Sharma to Auqib Nabi: 5 uncapped Indians who could draw big bids in IPL 2026 mini-auction
From Vishal Jethwa in Homebound to Sanya Malhotra in Mrs, 8 actors who gave most underrated performances in Hindi cinema in 2025Goa nightclub fire: Delhi court grants 48-hour transit remand of Luthra brothers to policeAssam CM hits back at Bangladesh’s leader threatening to ‘separate’ North-East states from India, ‘idea is misguided...’ 
'Modi ji has deep hatred for...': LoP Rahul Gandhi blasts Centre over G Ram G bill
Shashi Tharoor's increasing distance from the Grand Old Party
Bondi Beach shooter Sajid Akram was originally from Hyderabad? Here's what Telangana Police saidBPSC 70th Mains Result 2025 declared at bpsc.bihar.gov.in; 5,401 candidates qualified for interview, get direct LINK for PDF here
CLAT 2026 Results to be declared at consortiumofnlus.ac.in, check date, how to download scorecard 
UP NEET PG Counselling 2025 BIG UPDATE: Round 2 seat allotment result to be announced today at mcc.nic.in; Check details inside
School Holiday December 16: Schools to remain closed in THESE states today due to...; Check state-wise list here
CUET PG 2026 BIG UPDATE: Registration begins at exams.nta.nic.in, exam to be held in THIS month; Check details hereGoa nightclub fire: Delhi court grants 48-hour transit remand of Luthra brothers to police
'Modi ji has deep hatred for...': LoP Rahul Gandhi blasts Centre over G Ram G bill
Who is Mangesh Yadav? Left-arm speedster from MP T20 League joins Virat Kohli's RCB at Rs 5.2 crore
CLAT 2026 Results to be declared at consortiumofnlus.ac.in, check date, how to download scorecard
Explained: Why Arab Spring shook Jordan, failed to topple King Abdullah II?
BUSINESS
The ED registered a case after the Central Bureau of Investigation lodged an FIR in October 2017 on account of cheating and bank fraud to the tune of Rs. 5383 crore against the said company and its promoters
){kind=small}
Updated : Jun 29, 2019, 11:26 AM IST | Edited by : Sanal Sudevan
 "Photo: DNA")
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
Sandesara brothers scam is much bigger than the fraud committed by PNB scam accused Nirav Modi, the Enforcement Directorate (ED) has claimed.
ED sources told ANI that investigation revealed that Sterling Biotech Ltd (SBL)/Sandesara Group and its main promoters, namely Nitin Sandesara, Chetan Sandesara, and Deepti Sandesara, cheated Indian banks to the tune of over Rs 14,500 crore, as against diamantaire Nirav Modi, who committed bank fraud to the tune of Rs 11,400 crore.
The ED registered a case after the Central Bureau of Investigation lodged an FIR in October 2017 on account of cheating and bank fraud to the tune of Rs. 5383 crore against the said company and its promoters.
According to the sources, during the investigation, it was revealed that overseas companies of Sandesara Group had availed a loan of around Rs 9000 crore from foreign branches of Indian banks.
The official further mentioned that the SBL Group had obtained both Indian and foreign currency loans from Indian banks.
Loans were sanctioned by a consortium of banks led by Andhra Bank, UCO Bank, State Bank of India, Allahabad Bank and Bank of India, sources said.
During the investigation, it was also revealed that funds obtained from loans were diverted for non-mandated purposes, layered and laundered through a web of multiple domestic as well as offshore entities.
The main promoters have not only siphoned off loan funds to finance their Nigerian oil business but also for their personal purposes.
On June 27, the ED had attached properties worth Rs 9778 crore of SBL/Sandesara Group in the aforesaid bank fraud case.
The attached properties include four oil rigs and oil field, namely OML 143 in Nigeria, which are held by Sterling Energy Exploration Pvt Co Ltd (SEEPCO) Nigeria, ships, namely Tulja Bhawani, Varinda, Bhavya, Brahmani, which are registered in Panama and held in the name of Atlantic Blue Water Services, Aircraft 200 Gulfstream registered in the US held by M/s SAIB LLC and a residential flat in London.
