Mumbai Cosmetic Surgeon Booked For Allegedly Duping Investor Of ₹90 Lakh With False 10% Shareholding Promise

Mumbai: The N M Joshi Marg police have booked cosmetic surgeon Dr Mohan Thomas for allegedly cheating 65-year-old company secretary Narendra Ramniranjan Jain of Mahalaxmi of `90 lakh by promising a 10% stake in The Cosmetic Surgery (India) Pvt Ltd, dividends and high returns.

According to the FIR, Jain met Dr Thomas in 2012 while undergoing treatment and later underwent surgery at Breach Candy Hospital on his advice. Dr Thomas subsequently introduced him to the company, which allegedly supplied surgical equipment.

Jain paid ₹10 lakh in cash and, in April 2013, handed over a ₹80 lakh cheque when Dr Thomas visited his residence with co-directors James D’Silva and Viral Shah. The amount was credited on April 17. A Shareholder Agreement executed on April 18 provided Jain 10% shareholding at Rs10 per share.

Dr Thomas allegedly promised increased share capital within three months or to buy back Jain’s shares at ₹40 each, valuing them at about ₹3.2 crore, besides allowing him to nominate a director.

Jain alleged he received neither dividends nor board representation. In May 2024, he discovered through RoC filings that `80 lakh was shown as an unsecured loan. After Jain sent a legal notice, Dr Thomas reportedly claimed this was done with his consent, which Jain denied. An official said that police have taken up the case for further investigation.

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