According to the FIR, the total pending dues of Sterling Biotech were Rs5,383 crore as on 31 December 2016. Photo: Pradeep Gaur/MintNew Delhi: The Enforcement Directorate on Thursday conducted multiple searches in Delhi in connection with a Rs5,000 crore money laundering probe against the directors and associates of Gujarat-based pharma firm Sterling Biotech. The Enforcement Directorate had registered a case against the firm and the Sandesara family under sections of the Prevention of the Money Laundering Act (PMLA). The case is based on a CBI FIR against the same entities. The ED took cognisance of this FIR to file a money laundering case against them.

Source: Mint November 30, 2017 09:22 UTC