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6 Surat residents booked for duping Mulund firm of 8 cr

Jan 02, 2025 06:54 AM IST

Mumbai police booked six from Gujarat for allegedly duping Vinay Pharma of ₹8.46 crore by failing to pay for raw materials ordered.

MUMBAI: Six people from Gujarat were booked by Mumbai police on Tuesday for allegedly duping a Mulund-based business to the tune of 8.46 crore. The accused allegedly placed an order for raw material from the firm but did not pay for it after receiving them.

6 Surat residents booked for duping Mulund firm of <span class='webrupee'>₹</span>8 cr
6 Surat residents booked for duping Mulund firm of 8 cr

Police said the complainant Urvish Thosani, and his brother Vimal Thosani, run Vinay Pharma. The firm supplies raw materials to pharmaceutical companies. On September 2022, Parag Shah, a Surat-based broker introduced three of the accused to Urvish as those conducting business through JK Trading. The three men supplied some material to Vinay Pharma and received a payment of 14.32 lakh from them.

Two months later, one of the directors from JK Trading allegedly contacted Urvish to say he started a new company – in Ahmedabad and Nashik - and required some raw materials from Vinay Pharma. In his statement, Urvish said he and his brother met the director in Surat in 2022, after which he began supplying raw material to his company till August 2024, based on a foreign bank guarantee. However, as time passed, the director’s company failed to clear dues. When Urvish contacted the concerned bank, they said the bank guarantee was not enforceable in the country. The director then gave Urvish three cheques. Out of this, two came to be dishonoured on the ground that the account was closed and the third was dishonoured as it was not signed by the authorised person.

Urvish then approached the Mulund police to file a complaint.

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