The ED filed its first charge-sheet under Prevention of Money Laundering Act against Gujarat-based Sterling Biotech. The agency says it has discovered as-many-as 174-shell companies run by Sandesara family. A local-court took cognisance of charge-sheet in which 195-persons and entities have been named. ED has alleged that Sandesaras and other accused laundered over Rs.8,000Cr and that company directors inflated value of stocks and shares.
A day after the no-confidence motion moved by Chandrababu Naidu's Telugu Desam Party was defeated in the Lok Sabha, Jagan Mohan Reddy of YSR Congress has called a state-wide bandh against what he claimed was the "injustice done by the BJP government". Andhra Pradesh has been demanding a special status, which would involve extensive financial benefits.
The Enforcement Directorate has chargesheeted Gujarat-based pharma firm Sterling Biotech's director Rajbhushan Omprakash Dixit in a Rs.5,000 crore fraud case. The ED alleged the firm took loans of over Rs.5,000 crore from an Andhra Bank-led consortium, which turned into bad loans. The former director of Andhra Bank, Anup Prakash Garg was arrested earlier in relation with the case.