The Supreme Court has brought an end to the legal saga surrounding the Sandesara brothers, Nitin and Chetan, promoters of Sterling Biotech, by closing all criminal proceedings against them following a substantial deposit of ₹5,100 crore. The order, made public on November 19, 2025, stipulates that all cases filed by the CBI, ED, and under the Prevention of Money Laundering Act (PMLA) against the Sandesara brothers and other co-accused can be closed once the settlement amount is deposited. The brothers were accused of a bank fraud of over ₹5,383 crore linked to Sterling Biotech.
The Supreme Court's decision came after the government confirmed that a one-time settlement (OTS) had been formally sanctioned in the case. A bench of Justices JK Maheshwari and Vijay Bishnoi noted that the deposits were made between December 3 and December 6 in the registry of the Supreme Court. The court had agreed to quash all criminal proceedings against the Sandesara brothers on November 19, subject to them depositing an additional ₹5,100 crore to meet the demands of banks as a one-time settlement.
The Solicitor General Tushar Mehta presented a proposal before the Court, in which the Sandesara brothers agreed to deposit ₹5,100 crore as a full and final settlement of all outstanding dues arising from FIRs registered by the CBI, enforcement case information reports (ECIRs) filed by the Enforcement Directorate, attachments under the Prevention of Money Laundering Act, proceedings under the Fugitive Economic Offenders Act, prosecutions by the Serious Fraud Investigation Office, proceedings under the Black Money Act, and income tax complaints.
The Supreme Court clarified that its order was specific to the unique circumstances of the case and would not be considered a precedent in future matters. The court had observed that continuing criminal proceedings would serve no useful purpose if the defrauded amount was returned. The bench underscored that the primary objective was the recovery of public funds.
Nitin and Chetan Sandesara, who led a business empire from pharmaceuticals to energy, fled India in 2017 using Albanian passports after being accused of defaulting on domestic bank loans, although they denied any wrongdoing. The investigation revealed that the Sandesara Group's overseas companies had secured loans worth thousands of crores from foreign branches of Indian banks.
A spokesperson for the Sandesara family stated that the deposit of ₹5,100 crore comprehensively brings closure to all cases regarding the Sandesara family and their companies pending before multiple judicial forums and government agencies since 2017.
In addition to the ₹5,100 crore deposited, the Sandesara family had previously paid ₹3,507 crore between 2021 and early 2025, including ₹614 crore in 2020. Furthermore, a bankruptcy court, NCLT, had liquidated certain assets and recovered ₹1,192 crore. As a result, the total recovery against the Sandesara brothers amounts to ₹9,799 crore, nearly double the ₹5,383 crore initially cited in the CBI FIR.
The Supreme Court directed that ₹11 crore, which was deposited in excess of the stipulated amount, be transferred to the Supreme Court Legal Aid Services Committee.
