New Delhi, April 15 -- In a significant development for India's banking sector, the Supreme Court of India has brought the long-running Sterling Biotech case to a close after a total recovery of around Rs.9,800 crore, marking one of the largest corporate resolutions in the country.

The case, linked to businessman Nitin J. Sandesara and the Sandesara group, originated from a First Information Report (FIR) filed by the Central Bureau of Investigation, which had alleged an outstanding amount of Rs.5,383 crore.

Over the course of the proceedings, the Sandesara group reportedly repaid Rs.3,507 crore directly to the lending consortium, while an additional Rs.1,192 crore was realised through liquidation processes.

In its compliance order date...