Seven directors of healthcare firm booked on former CEO's complaint for Rs 68 cr fraud

Mumbai, Nov 1 (PTI) Seven directors of a healthcare firm have been booked for an alleged fraud of Rs 68 crore, a Mumbai police official said on Saturday.

The complaint was filed by Vivek Tiwari (47), founder and promoter M/s Boston IV Healthcare Solutions Pvt Ltd, who holds 13.03 per cent of paid up share holding, he said.

The company is in the business of medical equipment and instruments, which it sells to hospitals in India and abroad through an online platform, he said.

"The complainant was CEO till August 2024 and currently is a director of the company. Between April 1, 2024 and August 31 this year, seven directors of the company along with employees of the company allegedly diverted over Rs 264 crore of shareholders in non-existent and other fraudulent firms," he added.

The shareholders who were allegedly cheated include the complainant and joint promoter Ketan Malkan, who both have 13.03 per cent each paid up share holders of Rs 34 crore each, he said.

Based on the complaint, a case has been registered against seven directors of the company and others under Bharatiya Nyaya Sanhita, he said. PTI DC BNM