A Delhi court allowed the Enforcement Directorate, to go ahead with the extradition process against four Sterling Biotech promoters in an 8,100-crore rupee bank fraud case. The agency had sought permission from the court to initiate extradition proceedings against the promoters of the Gujarat pharma firm in the case.
Earlier in the day, the ED told the court that the four accused are reportedly in Italy and Nigeria and their extradition is required for probing the case.
The ED has filed the alleged bank fraud case against the firm under sections of the Prevention of Money Laundering Act. The accused are being probed by the agency also for allegedly bribing senior income tax department officials as part of an earlier criminal complaint.
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