According to the ED, the four allegedly manipulated figures in the balance sheets of their flagship companies and induced banks to sanction higher loans.
Nitin Jayantilal Sandesara and Chetankumar Jayantilal Sandesara are currently residing in Albania & have been accused in a Rs 8,100-crore money laundering case.
Rakesh Asthana’s name appeared in the Sterling Biotech diaries seized in 2011, but it has not been mentioned in five prosecution complaints filed so far.
In most cases, funds were siphoned from domestic companies to offshore tax havens by over-invoicing and under-invoicing, through intermediary shell companies .
India’s strategic decisions suggest a pragmatic reading of the US' duality. While defence cooperation with the US has accelerated, India continues to diversify its military suppliers.
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