Former Zuventus Stakeholders Seek Anticipatory Bail in Emcure CFO's Rs 74 Cr Data Theft, Employee Poaching Case

The accused include Chandrakant Vittal Shetty, a former stakeholder associated with Zuventus Healthcare and director of Zorvia Healthcare, along with Anand Vittal Shetty and Reji Verghese. The case stems from a complaint alleging that the accused established a competing pharmaceutical business and recruited employees from Zuventus Healthcare in violation of existing agreements.

During the hearing, Additional Sessions Judge Y P Manathkar observed that the allegations were serious in nature and involved accusations of cheating resulting in losses exceeding Rs 74 crore. Counsel representing the accused argued that the dispute was essentially commercial in nature and pointed out that related civil proceedings were already pending before appropriate forums.

The complainant opposed interim protection, contending that the accused had already sought similar relief before the Bombay High Court and therefore should not simultaneously pursue the same remedy before the sessions court. The court noted that the rival submissions required detailed consideration and posted the matter for further hearing on June 2.

According to the complaint filed by Emcure Pharmaceuticals Chief Financial Officer Tajuddin Sabir Shaikh, former stakeholders of Zuventus Healthcare allegedly breached a shareholders’ agreement and subsequently launched rival company Zorvia Healthcare in November 2025. The complaint stated that the agreement contained non-compete and non-solicitation clauses restricting stakeholders from engaging in competing businesses and recruiting employees from the company.

The complainant alleged that around 950 employees from various departments, including human resources, information technology, legal, marketing and sales, resigned from Zuventus Healthcare between October and December 2025 and joined Zorvia Healthcare, adversely affecting business operations.

The complaint further alleged that confidential commercial information, product-related data, export information and research material were transferred to personal email accounts. A technical audit reportedly found that intellectual property and research and development data valued at over Rs 100 crore had been deleted or misused.

According to the allegations, Zuventus Healthcare recorded a sales decline of Rs 74.96 crore between October 2025 and March 2026. The company also claimed monthly revenue losses ranging from Rs 7 crore to Rs 10 crore due to employee departures and the alleged misuse of confidential information.

Hindustan Times reports that the Economic Offences Wing is continuing its investigation into the allegations involving employee poaching, data theft, breach of contractual obligations and financial losses claimed by the complainant company.