EOW Registers ₹68-Crore Corporate Fraud Case Against Directors Of Boston Ivy Healthcare Pvt Ltd

Mumbai: The Economic Offences Wing (EOW) of the Mumbai Police has re-registered a major corporate fraud case involving ₹68 crore against the directors and key officials of Boston Ivy Healthcare Pvt. Ltd., originally an FIR filed at MIDC Police Station and now transferred to the EOW. An FIR has been registered under sections 316(5), 344, 351, 61(2), and 3(5) of the Bharatiya Nyaya Sanhita (BNS). The alleged offences took place between April 1, 2024, and August 30, 2025.

The complainant, Vivek Tiwari (47), a former Chief Executive Officer and 13% shareholder of the company, has accused the directors of arbitrarily terminating him from his position and engaging in large-scale financial irregularities. The alleged fraudulent activities occurred at the company’s registered office located at 2nd Avenue, Unit No., Viravali Village, near SEEPZ, MIDC Central Road, Mahakali Caves Road, Andheri East.

According to the complaint, after Tiwari’s removal, the accused directors allegedly allotted company shares to an ESOP Trust at grossly undervalued rates. They are also accused of siphoning off approximately ₹264 crore from the company’s accounts to various unrelated third parties between April 2024 and August 2025. Tiwari, along with co-promoter Ketan Malkan also a 13% shareholder claims to have suffered a combined loss of ₹68 crore due to these alleged acts of misappropriation and corporate fraud.

The accused in the case include Nitish Bandi, Pinak Shrikhande, Charles Janssen, Ravishankar Gopalkrishnan, Jens Nieuwenborgh, CEO Dinesh Lodha, CFO Raman Chawla and other associated individuals. The EOW is investigating the flow of diverted funds and examining company transactions to determine the extent of the financial fraud.

To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/