ED: Revoke passport of absconding directors of pharmaceutical company

New Delhi, March 09: The Enforcement Directorate (ED) will write to the Ministry of External Affairs (MEA) to "revoke passport" of one of the absconding directors of the Gujarat-based pharmaceutical company Sterling Biotech in connection with its ongoing money laundering probe in the alleged Rs 5,000-crore bank fraud case.

An agency source said that some of the Directors of the Sterling Biotech have gone missing or underground after the registration of the case. "In November last year, a court here had issued non-bailable warrants against two directors of the Gujarat-based pharma firm," he said.

The warrants were issued against Sterling Biotech Directors Chetan Jayantilal Sandesara and Nitin Jayantilal Sandesara for evading ED summons.

"Now, one of the top Directors of the Sterling Biotech has been located in a south European country, so the agency shall soon approach the MEA to revoke his passport," the source said.