Navi Mumbai Fraud: Pharmaceutical Firm Allegedly Cheated Of ₹40.20 Lakh By Duo Promising ₹200 Crore Investment

Navi Mumbai, October 26, 2026: A pharmaceutical chemicals company has allegedly been cheated of Rs 40.20 lakh by two persons who promised to invest Rs 100 crore to Rs 200 crore to help expand its business.

The accused allegedly posed as financial consultants of a reputed company and collected money in instalments under the pretext of consultancy fees, modifications to a project report and other business-related procedures.

Vashi police have registered a case against Pooja Umak and a person identified as Chirag and launched a search for the duo. The complainant, Ashwani Kumar Singh (52), a resident of Roorkee in Uttarakhand, is the vice-chairman of Embellish Pharmatech Pvt Ltd.

According to the complaint, Umak contacted Singh on May 14, 2026, when he was in Vashi for work, and claimed to be a financial consultant with Fluidmaster India Pvt Ltd. She allegedly expressed interest in investing Rs 100 crore to Rs 200 crore in his company.

Accused Allegedly Demanded Consultancy Fees

Umak subsequently visited the company's premises in Haridwar for an inspection, for which she obtained an air ticket from Singh. She later allegedly demanded money on several occasions, citing consultancy fees, changes to the project report and other business-related formalities.

During a subsequent visit to Delhi, Umak introduced Singh to Chirag, claiming that the company's chairman was based abroad and that Chirag handled its operations in India.

The duo allegedly gained Singh's confidence by assuring him of a substantial investment and persuaded him to transfer a total of Rs 40.20 lakh to various bank accounts.

Complainant Approaches Vashi Police

However, no concrete steps were taken towards the promised investment despite the payments. The accused also allegedly began avoiding Singh's requests to arrange a meeting with the company's chairman. Realising that he had been cheated, Singh first lodged a complaint through the cybercrime helpline portal and subsequently approached Vashi police.

Police have registered a case under Sections 318(4), 319(2) and 3(5) of the Bharatiya Nyaya Sanhita and Section 66D of the Information Technology Act. Further investigation is underway under the guidance of Senior Police Inspector Shashikant Chandekar.

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“People should verify the credentials and background of individuals promising large investments before transferring money. They should exercise caution and ensure that such proposals are genuine,” a Vashi police officer said.

The police are tracing the accused and investigating the bank accounts into which the money was transferred.

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