News Desk, EditorNews, New Delhi
Updated Tue, 30 Jun 2020 11:49 AM IST
ED team reached Ahmed Patel’s residence
– Photo: Editor News
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Prior to the interrogation on June 27, the ED summoned Patel twice, but Patel, a Rajya Sabha member from Gujarat, cited the guidelines of COVID-19-19 advising senior citizens to stay indoors. The agency then agreed to her request and informed them that she would send him to an investigating officer for questioning.
The last time he was questioned for about 8 hours. After the ED team arrived at home, Ahmed Patel had said, “Modi ji and Amit Shah ji’s guests had come … They came, asked me questions and went away.”
What is the whole matter
The ED has claimed that the Sandesara brothers have looted Indian banks more than Nirav Modi. Sources in the agency said that during the investigation, Sterling Biotech Limited (SBL) / Sandesara Group and its main promoters, Nitin Sandesara, Chetan Sandesara and Deepti Sandesara, forged around Rs 14,500 crore in Indian banks. At the same time, Nirav Modi is accused of defrauding Punjab National Bank of Rs 11,400 crore.
Also read- ‘Modi ji and Amit Shah ji’s guests had come’, Patel’s statement after ED team reached home
Debt in foreign currency
The investigating officer says that the SBL group had taken loans from Indian banks in rupees as well as foreign currency. The group was loaned by a consortium of banks led by Andhra Bank, UCO Bank, State Bank of India (SBI), Allahabad Bank and Bank of India (BOI).
During investigation, it was found that the loan amount was used non-sanctioned and some amount was transferred from there through fake domestic and foreign institutions. The major promoters of the group invested the loan amount not only in their oil business in Nigeria but it was also used for personal purposes. On June 27, ED seized assets worth Rs 9,778 crore of SBL / Sandesara Group.