The Supreme Court of India directed SEBI to close proceedings against Sterling Biotech and promoters Chetan and Nitin Sandesara after Rs 5,100 crore deposit. The Court warned of a detailed order if its clear earlier directions are not complied with.
The Supreme Court questioned SEBI for not closing its investigation against the Sandesara brothers despite its earlier order to end proceedings after payment of ₹5,100 crore. The Court asked why the regulator was “coming in the way” when the payment condition had already been fulfilled.
