Maharashtra: Case against trader for duping farmers of over Rs 2 crore in Latur
Maharashtra: Case against trader for duping farmers of over Rs 2 crore in Latur

A deputy general manager of Sun Pharma Laboratories Limited has been booked by the Vanrai police station for allegedly misappropriating the pharma firm’s funds and causing the company a loss of Rs 31 crore. The case will be transferred to the Economic Offences Wing (EOW) for further probe.

The accused identified as Aman Yadav floated a bogus company named E-Star to divert funds and gain pecuniary benefits from vendors of the pharma company, states the complaint lodged by the pharma firm through its employee.

According to the complaint, Yadav used to work in the purchase department of the company since 2013, and his work involved the responsibility to purchase field books for doctors, and gifts for medical representatives of the company. And hence, Yadav was authorised by the company to conduct the procurement tender process at his own discretion for up to Rs 3 lakh. This required him to purchase medical books and gifts from vendors at the minimum cost price.

But in 2019 the company in its internal audit found that Yadav had procured the gifts and books at much higher rates when his email was scrutinised, where it was found that he had been discussing about commission with one A Chunavala. It ascertained that Yadav had been embezzling company funds, following which a detailed audit was carried.

The audit found that Yadav was giving contract of supplying books and gifts only after the paid 10 to 20 per cent of the contract amount by cheque or cash, or by other means as commission. Yadav had clandestinely empanelled his company E-Star as one of the vendors of Sun Pharma, to dupe the company. Yadav was forced to resign in February 2020.

Yadav also took gold coins and overseas expenses like flight tickets as commission from vendors, said a EOW officer. “Yadav has credited the commission money to himself and his family as well as to the bank accounts of Chunawala and his other associates. A loss of Rs 31 crore has been incurred to the company due to this,” said the officer.

"He was expected to negotiate with the vendors while purchasing the items ar the lowest rate possible. However instead of doing that he gained financial benefits in the form of commissions by misusing the authority entrusted to him," said a police officer. Yadav and his associate Chunavala has been booked under section 120B(criminal conspiracy) and 408(criminal breach of trust) of Indian Penal Code.

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