SBI-led secured lenders move SC for claims from Rs 5,100 cr deposited by Sterling Biotech

NEW DELHI: (Mar 18) A consortium of secured lenders including banks of Sterling Biotech Ltd of promoters Chetan and Nitin Sandesara has moved the Supreme Court for disbursal of their claim amounts from Rs 5,100 crore deposited in the apex court registry while highlighting their total outstanding against the Group companies was at Rs 19,283.77 crore.

A bench of Justices J K Maheshwari and A S Chandurkar, which on Monday took on record the joint application filed by the consortium led by the State Bank of India and while asking it to be served to Solicitor General Tushar Mehta, listed the matter for further hearing on March 23.

The banks placed on record a consolidated computation of claims across multiple Group entities and setting out the methodology adopted for the distribution of the amount.