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India offers to drop charges against fugitive brothers if they pay $570 million by Dec. 17.
India’s Supreme Court has agreed to drop criminal charges against fugitive billionaire brothers Nitin and Chetan Sandesara if they pay $570 million—about one-third of a $1.6-billion fraud claim—by December 17.
The brothers, who fled India in 2017 using Albanian passports and deny wrongdoing, are among 14 individuals designated as fugitive economic offenders under a 2018 law allowing asset freezes.
Their lawyer said they are willing to settle to end all legal proceedings.
The case, involving alleged bank loan defaults, could set a precedent for resolving similar high-profile fraud cases through financial settlements rather than prosecution, potentially limiting lenders’ ability to recover full losses.
La India ofrece retirar los cargos contra los hermanos fugitivos si pagan $570 millones antes del 17 de diciembre.