US EditionIndia's top court agrees to $570 million settlement by fugitive billionaire brothers
India's Supreme Court sets a December 17 deadline for a $570 million payment to resolve one-third of alleged $1.6 billion bank fraud by Sandesara brothers.
- On November 24, 2025, the Supreme Court of India agreed to drop charges against Nitin Sandesara and Chetan Sandesara if they pay $570 million by December 17, 2025, their lawyer Mukul Rohatgi said.
- After fleeing in 2017 on Albanian passports, the Sandesaras were designated among 14 fugitive economic offenders under the 2018 fugitive economic offender law; they deny wrongdoing while controlling businesses from pharmaceuticals to energy including Sterling Oil Exploration and Energy Production .
- Court records show �5,383 crore listed as the FIR's defalcation amount, and the bench ordered �5,100 crore must be deposited with the Supreme Court Registry by December 17, 2025.
- The Supreme Court said charges may be quashed after payment, and Debopriyo Moulik noted `This is very similar to the approach adopted in foreign countries where fines are an alternative to facing trial`.
- The apex court said its directions should not be treated as precedent, clarifying they were based on peculiar facts; the Solicitor General's sealed demand for �5,100 crore prompted the settlement, marking a turning point in public money recovery and accountability.
19 Articles
19 Articles
SC directs quashing of criminal cases against Sandesara brothers in Sterling Biotech bank fraud case on condition of payment of ₹5100 crore by Dec. 17
The Supreme Court has directed the quashing of all criminal proceedings against the fugitive Sandesara brothers in the Sterling Biotech bank fraud case, provided they deposit ₹5100 crore as a “full and final payment” to lender banks.
Supreme Court agrees to Rs 1,500-cr settlement by fugitive Sandesara brothers in bank fraud case
The Supreme Court has cleared a landmark settlement of fugitive businessmen Nitin and Chetan Sandesara, accused of bank fraud in a case involving Rs 5,383 crore (approx. 1.6 billion), allowing court proceedings to be dropped if they pay one-third of their dues.
India's top court agrees to $570 million settlement by fugitive billionaire brothers
India's Supreme Court has agreed to drop criminal charges against billionaire brothers Nitin and Chetan Sandesara if they pay a third of their dues in a $1.6-billion bank fraud, a step that could prompt other offenders to seek similar settlements.
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