Sterling Biotech bank loan case
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'''Sterling Biotech loan case''' is a major financial scandal in India involving the diversion of bank loans and money laundering by the promoters of Sterling Biotech Limited, a [[Vadodara]]-based pharmaceutical company. The case, one of the largest bank frauds in the country's history, involved alleged defaults and siphoning of funds {{INRConvert|8100|c|year=2017}} crore through a network of shell companies.{{Cite web |last= |date=2025-11-25 |title=A timeline of the Sterling Biotech fraud case |url=https://insolvencytracker.in/2025/11/25/the-sterling-biotech-fraud-case-a-timeline-of-indias-major-bank-fraud-case/ |access-date=2025-12-03 |website=Insolvency Tracker |language=en-US}} |
'''Sterling Biotech bank loan case''' is a major financial scandal in India involving the diversion of bank loans and money laundering by the promoters of Sterling Biotech Limited, a [[Vadodara]]-based pharmaceutical company. The case, one of the largest bank frauds in the country's history, involved alleged defaults and siphoning of funds {{INRConvert|8100|c|year=2017}} crore through a network of shell companies.{{Cite web |last= |date=2025-11-25 |title=A timeline of the Sterling Biotech fraud case |url=https://insolvencytracker.in/2025/11/25/the-sterling-biotech-fraud-case-a-timeline-of-indias-major-bank-fraud-case/ |access-date=2025-12-03 |website=Insolvency Tracker |language=en-US}} |
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In April 2026, the [[Supreme Court of India]] approved a full and final settlement proposed by the promoters. Pursuant to the settlement, the promoters paid a cumulative total of approximately {{INRConvert|9800|c}} to the secured lender banks and into the Supreme Court registry. The Court directed that all related criminal, regulatory and civil proceedings be quashed, and the matter was formally closed on 15 April 2026.{{Cite web |date=2026-04-15 |title=SC concludes Sterling Biotech case after Rs 9,800 crore recovery |url=https://www.financialexpress.com/business/news/sc-closes-sterling-biotech-case-after-rs-9800-crore-recovery/4208239/ |access-date=2026-04-22 |website=The Financial Express |language=en}} |
In April 2026, the [[Supreme Court of India]] approved a full and final settlement proposed by the promoters. Pursuant to the settlement, the promoters paid a cumulative total of approximately {{INRConvert|9800|c}} to the secured lender banks and into the Supreme Court registry. The Court directed that all related criminal, regulatory and civil proceedings be quashed, and the matter was formally closed on 15 April 2026.{{Cite web |date=2026-04-15 |title=SC concludes Sterling Biotech case after Rs 9,800 crore recovery |url=https://www.financialexpress.com/business/news/sc-closes-sterling-biotech-case-after-rs-9800-crore-recovery/4208239/ |access-date=2026-04-22 |website=The Financial Express |language=en}} |
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