TaxTMI 
TaxTMI 
Sandesara brothers deposit Rs 5,100 cr; total recovery nearly double of Rs 5,383-cr fraud
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....andesara brothers deposit Rs 5,100 cr; total recovery nearly double of Rs 5,383-cr fraud<BR>Corp. Laws / SEBI / IBC<BR>Dated:- 11-12-2025<BR>PTI<BR>New Delhi, Dec 11 (PTI) Fugitive businessmen Nitin and Chetan Sandesara have deposited Rs 5,100 crore with the Supreme Court registry, their spokesperson said on Thursday, fulfilling the condition set by the apex court for withdrawal of criminal charge....
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....s against them. Against the original FIR by the CBI charging the brothers of defaulting on bank loans for Rs 5,383 crore, the total recovery against the two, whose companies spanned indusries from pharmaceuticals to energy, now stands at Rs 9,799 crore. "Nitin Sandesara, Chetan Sandesara, and family have deposited Rs 5,100 crore with the Registry of the Supreme Court of India as per the Suprem....
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....e Courts order on November 19, 2025. The deposit of Rs 5,100 crore has been fully made as of 6th of December 2025," a spokesperson for the family said in a statement. The Supreme Court had set a deadline of December 17 for the siblings, declared as fugitives for fleeing the country after defrauding public banks, to deposit the amount. The deposit of Rs 5,100 crore on December 6, the statement ....
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....said, "comprehensively brings closure to all cases regarding the Sandesara family and their companies pending before multiple judicial forums and government agencies since 2017". The duo, who figure among 14 designated fugitive offenders under a 2018 law that allows freezing of assets, had fled India in 2017 on Albanian passports. The CBI FIR of 2017 had put the defrauded amount at Rs 5,383 cr....
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....ore. In 2020, the lenders offered a court-guided one-time settlement of Rs 6,761 crore. The family paid Rs 614 crore, or about 10 per cent of the amount, upfront. A bankruptcy court NCLT liquidated certain assets and recovered Rs 1,192 crore. Between 2021 and early 2025, the family paid a total of Rs 3,507 crore (including Rs 614 crore paid in 2020). After considering the Rs 5,100 crore paid i....
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....n pursuance of the Supreme Court order of November 19, the amount recovered comes to Rs 9,799 crore. The Supreme Court in its November 19, 2025 order said "the amount of defalcation in FIR was Rs 5,383 crore". "The one-time-settlement (OTS) with respect to all Indian companies of the petitioners (Sandesara brothers) with the banks was for a sum of Rs 3,826 crore and for foreign companies being....
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.... guarantor was of Rs 2,935 crore, bringing the total sum to Rs 6761 crore," it said. "Out of the said amount, the petitioners have voluntarily deposited fraction of total amount under various heads, including as per orders of this Court, which comes to around Rs 3507.63 crore, leaving the remaining dues to Rs 3,253.37 crore." The lender banks have initiated the proceedings under Insolvency Ban....
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....kruptcy Code, 2016 before the National Company Law Tribunal, wherein recoveries made of worth Rs 1,192 crore. "However, out of the total amount as specified in the OTS, which was higher than the amount as specified in the FIR, the remaining unpaid amount comes to Rs 2,061.37 crore," it said. "As indicated in order dated 18.11.2025 and after consultation with the lending banks, the investigatin....
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....g agencies through learned Solicitor General, in a sealed cover demanded Rs 5,100 crore against the dues/recoveries which are the subject matter of the FIR and other criminal proceedings." The brothers accepted the offer and have deposited the amount. PTI ANZ TRB TRB<BR> News - Press release - PIB....