The state government of Gujarat has taken strong action against Nitin Sandesara and his group companies following an alleged multi-crore bank fraud.
Chief Minister Vijay Rupani has ordered termination of the permission granted to the Sandesaras-promoted Sterling Port Ltd for developing all-weather berthing facilities at Dahej port in South Gujarat.
Rupani has also directed the state port authority, the Gujarat Maritime Board (GMB), to take immediate action to recover dues (Rs 80 crore, according to reports) from Sterling Port Ltd.
An official statement stated that the said developer and its investors were granted six months’ time to honour the contract but nothing moved. GMB had convened an urgent meeting to initiate strong action against the errant company and its promoters.
Enforcement Directorate (ED) said that Sandesara, through the Sterling Group, has allegedly cheated Indian banks to the tune of Rs 14,500 crore.
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