The Supreme Court docket has closed the 13,000 crore financial institution fraud case in opposition to Sterling Biotech promoters Nitin and Chetan Sandesara after the brothers paid over Rs 5,100 crore and agreed to settle the remaining Rs 8,100 crore, quashing all legal proceedings in opposition to them.

The Sandesara brothers have been accused of taking massive loans from Indian banks earlier than fleeing the nation in 2017, after which they have been declared fugitive financial offenders.

Through the proceedings, the Sandesara Group paid Rs 3,507 crore on to the lending consortium, whereas an extra Rs 1,192 crore was recovered via liquidation. In its compliance order dated December 17, 2025, the Supreme Court recorded a remaining settlement deposit of Rs 5,111.43 crore, taking the whole restoration to round Rs 9,800 crore.

The entire excellent, in accordance with lenders, quantities to over Rs 19,000 crore. Nevertheless, an FIR filed by the CBI in 2017 pegged the excellent quantity at over Rs 5,300 crore.

The courtroom had noticed that persevering with legal proceedings would serve no significant goal in mild of the substantial restoration already made.

Banks had moved the Supreme Court docket in search of launch of over Rs 5,000 crore deposited beneath the settlement masking Sterling Biotech and its group entities, and lenders have since agreed on a formulation to distribute the recovered funds.

The ruling, which brings an finish to one in every of India’s most high-profile financial institution fraud circumstances, underscored a practical strategy which prioritised monetary restitution over extended legal litigation.

– Ends

Tune In