In this paper, a sensorless fault tolerant controller for induction motors is developed. In the proposed approach, a robust controller based on backstepping strategy is designed in order to compensate both the load torque disturbance and the rotor resistance variations caused by the broken rotor bars faults. The proposed approach needs neither fault detection and isolation schemes nor controller reconfiguration. Moreover, to avoid the use of speed and flux sensors, a second order sliding mode observer is used to estimate the flux and the speed. The used observer converges in finite time and permits to give good estimates of flux and speed even in presence of rotor resistance variations and load torque disturbance. Since the used observer converges in finite time, the stability of the closed-loop system (controller + observer) is shown in two steps. First, the boundedness of the closed-loop system trajectories before the convergence of the observer is proved. Second, the convergence of the closed-loop system trajectories is proved after the convergence of the observer. To highlight the efficiency and applicability of the proposed control scheme, simulation and experimental results are conducted for a 1.5kW induction motor.