Fugitive Sandesaras of Sterling Biotech Continue To Do Business with Indian Oil PSUs
Moneylife Digital Team
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In one more shocking twist to the controversial goings-on at major corporate defaulter Sterling group, it has been revealed that the fugitive Sandesara family is not only dictating terms to Indian public sector banks (PSBs) but has also continued to do business with the State-run oil companies.
According to whistle-blower Captain Sukhpal Singh, while the Sandesaras have been declared fugitives by the Prevention of Money Laundering Act (PMLA) court in September 2020, Indian Oil Corp Ltd (IOC) is importing oil from Sterling Oil Exploration & Energy Production Company Ltd (SEEPCO) from Nigeria, a group company of the Sandesaras.