Torrent Pharma Data Theft Case: Ahmedabad Court Denies Bail to Man Accused of Rs 10 Crore Extortion Bid

Ahmedabad: An Ahmedabad Sessions Court has dismissed the bail application of Odisha resident K. Lokanath Subodh, who has been accused in a cybercrime case involving the alleged theft of confidential corporate data belonging to Torrent Pharmaceuticals and an alleged attempt to extort crores of rupees from the company.

According to the recent media report in Gujarat Samachar, Torrent Pharmaceuticals filed a complaint with the Cyber Crime Branch alleging that the accused unlawfully accessed the company's computer network and extracted sensitive information, including internal emails, business records, customer details, pricing and discount structures, and other proprietary documents.

The complaint further alleged that the accused threatened to disclose or sell the confidential information to rival companies unless his monetary demands were met. Investigators stated that he initially demanded a ransom of ₹10 crore and reportedly sent copies of the stolen documents to the company through Speed Post. It was later alleged that the ransom demand was revised to ₹6 crore.

During the course of the investigation, police reportedly recovered a Redmi 5G smartphone, an Intel CPU, a spiral bullet, and nearly 51 documents believed to be connected to the alleged offence from the accused.

While refusing to grant bail, the Sessions Court observed that the allegations involve the theft of highly confidential corporate data along with an attempt to extort a substantial amount of money. The court also took note of the increasing incidence of cybercrime and observed that the investigation is still underway, with the chargesheet yet to be filed.

Gujarat Samachar reported that, considering the gravity of the allegations and the ongoing stage of the investigation, the court held that no grounds existed for granting bail and accordingly rejected the accused's application.