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Why do bankers favour the Sterling Biotech fraudsters?


The Sandesaras brothers of Sterling Biotech, which is not only a huge NPA account, but also a fraud case, seem to have been let of the hook very easily. They have openly cheated banks to the tune of 9,000 crore ₹ and have transferred the money abroad and set up a huge business empire with interests in various countries. Even though its promoters have been declared as economic offenders, the system seems to favour them blatantly. Involvement of netas, babus and the system is suspected as they have been allowed to get away scot free in spite of cases by the ED, CBI, SFIO. Banks have now accepted their offer to repay the money with a massive haircut of 66%. Other NPA lenders such as Essar Group and Vijay Mallya have also offered to repay their entire amount without any haircut, but their offer has not been accepted. We ask the qustion as to why bankers seem to be showing such favout to the fraudulent Sandesaras brothers?

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