The Sandesara Group, facing several criminal cases, deposited Rs 5,100 crore in the Supreme Court as One Time Settlement (OTS) to banks. With this payment as OTS, all criminal cases against the Group and its fugitive promoters filed by CBI, ED, Income Tax and SFIO, and all cases will be quashed as per the Supreme Court’s order dated November 19. In a statement issued on Wednesday, the Group said that they have remitted Rs 5,100 crore at the apex court on December 6.
“Nitin Sandesara, Chetan Sandesara, and family have deposited Rs 5,100 crores with the Registry of the Honorable Supreme Court of India as per the Supreme Court's order on November 19, 2025. The deposit of Rs 5,100 crores has been fully made as of 6th of December 2025. This comprehensively brings closure to all cases regarding the Sandesara Family and their companies pending before multiple judicial forums and Government agencies since 2017,” said the statement.
In 2017, Sandesara brothers Nitin and Chetan and family members escaped from India and settled in Nigeria by using their illegally obtained Albanian passports. They were facing CBI and ED cases for bank loan frauds of more than Rs 16,000 crore. The ED has attached properties worth Rs 10,000 crore and by this OTS scheme, the Government has agreed to withdraw all the cases against the fugitives.
In a curious development, the Bench comprising Justices JK Maheshwari and Vijay Bishnoi on November 19 allowed the fugitive Chetan-Nitish Sandesara brothers’ firms to deposit Rs 5,100 crore as OTS in the Registry by December 17 to avoid all cases, including criminal cases registered by various probe agencies. The apex court agreed to the Central Government, which submitted the OTS scheme, including withdrawing all cases in a sealed cover, on November 18. With this order Supreme Court has allowed fugitive Sandesara brothers and their Sterling Group to go scot-free from all criminal cases filed by CBI, ED and Income Tax related to bank loan frauds by paying Rs 5,100 crore, which is only 1/3 of the dues.