Pharma Capsule Maker, Packaging Firm Allege Rs 3 Crore Fraud, 4 Booked by Ahmedabad DCB
Ahmedabad: The Detection of Crime Branch (DCB) has registered a case of cheating and criminal breach of trust against four individuals after two Ahmedabad-based firms alleged they were duped of over Rs 3 crore in separate business transactions involving pharmaceutical products and packaging materials.
According to a recent media report in The Times of India, the complaint was filed by Manthan Patel, partner at Naranpura-based Lozenge Pharma Industries, a company engaged in the manufacturing and supply of pharmaceutical capsules.
As per the FIR, Patel and his business partner came into contact with accused Manish D. Verma in February 2024 through officials of Pirana-based Styrun Health Care. Verma allegedly introduced himself as the owner of Mumbai-based Swadh's Import and Export Pvt Ltd and assured the complainants that payments for supplied goods would be cleared within 90 days of delivery.
Relying on these assurances, Lozenge Pharma supplied pharmaceutical capsule consignments worth approximately Rs 1.18 crore between July and October 2024. While the company received payments of around Rs 35 lakh, an amount of Rs 83.77 lakh allegedly remained unpaid. With delayed payment charges added, the outstanding dues reportedly exceeded Rs 1.03 crore.
The FIR further stated that Verma subsequently requested that future invoices be raised in the name of Styrun Health Care, citing operational difficulties faced by his company. Based on purchase orders allegedly placed by Styrun Health Care directors Manjurali Mohammedbhai Chudiya and Abidali Chudiya, Lozenge Pharma supplied additional goods worth Rs 48.83 lakh. After adjusting payments received and returned stock, the company claimed that Rs 38.68 lakh remained outstanding.
In a related complaint, Girish S. Shah, proprietor of Vatva GIDC-based Shah Paper Pack, alleged that Verma and co-accused Sandeepsinhg Vijay Bahadur procured corrugated boxes and mono cartons used for packaging purposes worth around Rs 1.51 crore on credit. However, only Rs 13 lakh was allegedly paid. Including delayed payment charges, Shah claimed outstanding dues of approximately Rs 1.66 crore.
Collectively, the two firms have alleged financial losses exceeding Rs 3.09 crore.
Based on the complaints, the DCB has booked Verma, Bahadur, Manjurali Chudiya and Abidali Chudiya under relevant provisions related to cheating, criminal breach of trust and criminal conspiracy. Investigators are examining the transactions and the role of each accused in the alleged fraud.
The Times of India reports that the accused allegedly induced the complainants to supply pharmaceutical products and packaging materials on credit before defaulting on payments, causing substantial financial losses to both businesses.
