Osia Hyper Mart shuts shop, company owes suppliers dues of ₹50 crore to ₹100 crore

Hundreds of suppliers linked to Ahmedabad-based retail chain Osia Hyper Retail Limited are facing major financial losses after post-dated cheques issued by the company reportedly bounced, with the total outstanding amount estimated to be between ₹50 crore and ₹100 crore.

The crisis has affected suppliers to Osia Hyper Mart outlets across Ahmedabad and other parts of Gujarat. Notices issued under the Insolvency and Bankruptcy Code were reportedly pasted outside Osia stores on April 28, stating that the company’s assets had been placed under the control of interim resolution professionals and that creditors should not enter the premises.

Sources said Osia Hyper Retail Limited’s operations in Dubai and Abu Dhabi have also shut down.

Suppliers alleged that company promoters, including owner Dhirendra Chopra, are unreachable, with calls going unanswered and staff phones switched off. Resolution professionals have reportedly taken charge of offices and retail outlets.

According to distributors, payment delays began after purchases made during June and July 2025. In a meeting with suppliers in September 2025, Chopra reportedly assured them that fresh investors would pump in over ₹650 crore and payments would begin from December 2025. Suppliers were allegedly asked to hold on to post-dated cheques in anticipation of improved liquidity.

However, concerns intensified after several cheques dated January 2026 and onwards were dishonoured .

The Federation of Gujarat FMCG Distributors Charitable Trust claimed that suppliers in Ahmedabad alone may have suffered losses exceeding ₹16 crore, while the total liability across Gujarat could range between ₹50 crore and ₹100 crore.

Several suppliers have already initiated legal action. Complaints have reportedly been filed before the Micro and Small Enterprise Facilitation Council against Osia Hyper Retail Limited.

Among those affected, Shiv Global Ventures allegedly has dues of ₹9.45 lakh pending, while Vadodara-based Raj Trade Links claims outstanding payments of ₹91.96 lakh. Ahmedabad’s Bhavani Trading Company reportedly has more than ₹25 lakh stuck, with 21 cheques issued during 2025-26 allegedly returned unpaid by Indian Bank due to insufficient balance.

Other suppliers also reported multiple dishonoured cheques. Four out of five cheques issued to M/s A Patel & Company in April 2026 were reportedly returned unpaid, while additional cheques are due for clearance in May. Some suppliers claimed that certain cheques bore the signature of Kavita Chopra, the wife of Dhirendra Chopra.

Businesses in Rajkot, Gandhidham, Vadodara and Ahmedabad have also reported substantial unpaid dues. Suppliers alleged that rental payments for hypermarket properties in Jamnagar, Bhuj, Gandhidham and Mundra were also pending.

In another dispute, a property owner in Vadodara reportedly issued a legal notice under Section 138 of the Negotiable Instruments Act after a cheque issued for reimbursement of municipal taxes allegedly bounced.

Suppliers further alleged that a new ‘Cash & Carry’ company was formed in Vadodara in partnership with other individuals after suppliers began restricting deliveries to Osia stores. Goods were allegedly procured through the new entity despite mounting unpaid dues.

There are also allegations that one supplier was offered a position on the board of Osia Hyper Retail Limited in an attempt to calm growing anger among distributors, though the proposal was reportedly declined.

Promoters associated with the company include Dhirendra Gautam Chopra, Kavita Dhirendra Chopra, Gautam Jasraj Chopra, Nirmala Gautam Chopra and other family members.

Meanwhile, speculation surrounding the personal spending of the promoters has fuelled resentment among suppliers. Market discussions have linked the promoters to the purchase of luxury property and high-end vehicles even as payments to distributors remained pending.

Osia Hyper Retail Limited, a listed company, has also witnessed sharp fluctuations in its share price. The company’s stock reportedly rose from around ₹8 last September to nearly ₹33 in January before falling again to around ₹6.21.