Mumbai: The Economic Offences Wing (EOW) of the Mumbai Police has taken over the investigation in a major corporate fraud case registered at Pydhonie Police Station under Sections 406, 420, and 34 of the IPC.
The complainant, Sasidharpan Velayudhan Mapranan, has accused Vivin Drugs and Pharmaceuticals Limited and its directors of defrauding his company, Sanjay Chemicals India Pvt. Ltd., of ₹14,56,45,498.
Accused Named in the FIR as Parvathayya Bota, Sumanth Bota, Anuradha Bota, Saradha Bota and Shilpa Bota, who were directors of Vivin Drugs and Pharmaceuticals Ltd. have been listed as wanted accused
According to the FIR, the accused company and its directors allegedly hatched a conspiracy to cheat the complainant’s firm. The complainant stated that The accused initially placed small orders at lower prices and made timely payments through bank guarantee letters. This was done to gain the trust of Sanjay Chemicals India Pvt. Ltd.
After establishing trust, the accused placed large purchase orders, despite knowing they would not be able to clear payments. They allegedly gave false assurances of timely payment. Eventually, they defaulted on payments, causing a loss of ₹14.56 crore to the complainant’s firm.
The Mumbai EOW is now conducting further investigation into the fraudulent transactions, financial trail, bank guarantees, and the role of each director. The case involves large-scale commercial dealings and suspected deliberate default. Authorities are examining whether more companies or individuals were similarly targeted using the same method.
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