Sandesaras

The Supreme Court told market regulator Securities and Exchange Board of India (SEBI) on Thursday to close proceedings against Sterling Biotech Limited (SBL) and its promoters, Chetan and Nitin Sandesara, or else it will be compelled to take a serious view of the matter. A bench of Justices J K Maheshwari and A S Chandurkar told the SEBI's counsel that its order of November last year was very clear that all proceedings against the Sandesara brothers will be quashed if they deposit Rs 5,100 crore in the apex court registry. "We have said all proceedings, including that of SEBI, need to be quashed upon deposit of the money. If you are doing it, then it is alright, or we will be compelled to pass a detailed order on the issue," the bench told the counsel. The SEBI's counsel said Solicitor General Tushar Mehta is deliberating with the market regulator and sought a week's time to apprise the court of the developments. Senior advocate Mukul Rohatgi, appearing in the court for the Sandesa

The selection of a firm owned by the family of the duo branded as fugitives by India to drill wells for the project is just the latest sign of how Nigeria has provided the brothers a haven

The selection of a firm owned by the family of the duo branded as fugitives by India to drill wells for the project is just the latest sign of how Nigeria has provided the brothers a haven

The ED had made similar pleas, under the new fugitive law, against Vijay Mallya and diamond jewellers Nirav Modi and Mehul Choksi in separate bank loan money laundering probes