Gujarat businessman held in Dubai for Rs 5,000 crore fraud
(WorldNews India)

NEW DELHI: Fugitive businessman Nitin Sandesara, wanted in a Rs 5,000 crore bank fraud case, was detained in Dubai a few days ago, raising the possibility of his deportation, according to sources in agencies investigating the Sandesara group of industries, including the Vadodara-based Sterling Biotech Ltd. The Sandesara brothers, Nitin and Chetan, are accused of defrauding a consortium of government banks led by Andhra Bank. Nitin`s detention is a significant breakthrough for agencies investigating the fraud. The Vadodara-based brothers had fled the country with family members before the CBI registered a case against them last year. The Enforcement Directorate is investigating the...