Ahmedabad pharma trader alleges ₹6.5 crore fraud by woman proprietor

The Economic Offences Wing (EOW) of Ahmedabad Police has registered a case against a woman proprietor for allegedly cheating a pharmaceutical firm of more than ₹6.5 crore through unpaid purchases of raw materials for medicines.

An FIR filed on September 3 by Bhaumikbhai Rameshbhai Patel (33), a partner in Macline Pharmaceuticals, alleged that the accused Shitalben Nao alias Shitalben Panchal, proprietor of D M Corporation in Dudheshwar, systematically placed large orders for pharmaceutical raw materials between May 2022 and January 2023, but failed to clear outstanding dues.

The complaint states that Shitalben initially built trust by promptly paying for smaller consignments, before escalating orders worth over ₹13.7 crore for ingredients including azithromycin, paracetamol and nimesulide. Of this, she allegedly cleared payments of about ₹6.16 crore, while the remaining ₹6.5 crore remained unpaid.

Patel told police that Shitalben issued a series of post-dated cheques from her Federal Bank account as security. Several of these cheques bounced, while others were allegedly replaced with new ones, creating a cycle of delays. Despite repeated assurances, the accused failed to settle the dues, the FIR states.

Shitalben has since closed down her office in Dudheshwar and 'disappeared', raising suspicion of deliberate fraud and criminal breach of trust, the complaint adds.

Based on the complaint, DCB have registered a case under sections related to cheating, criminal breach of trust and fraud of the Bharatiya Nyaya Sanhita. The investigation has been handed over to the Economic Offences Prevention Branch.

Senior officials confirmed that statements from business partners and financial witnesses are being recorded, and efforts are underway to trace the accused.