New Delhi [India], August 21 : The Delhi High Court has granted protection from coercive action to Vicky Ramancha, accused of supplying spurious drugs worth USD 18 million to a company. The Economic Offence Wing of Delhi Police is investigating the case following the registration of an FIR.
Justice Neena Bansal Krishna directed that no coercive action be taken against Ramancha until the next hearing date.
"It is hereby directed that till the next date of hearing, no coercive action be taken against the Petitioner," Justice Neena Bansal Krishna ordered on August 19.
Meanwhile, the court has directed Ramancha to join the investigation and ordered the filing of a status report/reply within four weeks on his anticipatory bail plea.
The matter is listed for hearing on September 22.
Senior advocate Manu Sharma and advocate Samar Khan appeared for Ramancha.
His anticipatory bail plea was rejected by the trial court on August 11. Ramancha, through advocate Samar Khan, has now filed a petition seeking anticipatory bail.
During the hearing, counsel for the petitioner submitted that he shall join the investigation on August 25.
Petitioner is accused of selling counterfeit drugs, specifically Ozempic, to foreign entities. The spurious drugs were seized by the US agency FDA, the police said.
On August 11, the Patiala House court rejected the bail plea of Vicky Ramamcha in view of the seriousness of the allegations and noted that spurious drugs directly affect public health.
While rejecting the plea, the court said, "The extraordinary remedy of anticipatory bail is inappropriate given the gravity of allegations, flight risk, and potential for evidence tampering."
"The allegations involving supply of spurious drugs pose direct threats to public health and safety requiring robust legal response," ASJ Laller observed in the order.
Accordingly, the anticipatory bail application is dismissed on the grounds that the jurisdictional complexity presents mixed questions of fact and law requiring comprehensive investigation that cannot be conclusively determined at this preliminary stage, the ASJ ordered on August 11.
Vicky Ramamcha is accused of orchestrating an elaborate international criminal conspiracy involving the supply of counterfeit pharmaceutical drugs, specifically 'Ozempic', to foreign entities.
The allegations are of a sophisticated transnational fraud operation that allegedly caused financial losses exceeding USD 18.8 million to the complainant company.
The alleged scheme involved fraudulently inducing the complainant company to pay USD 18,834,382 for pharmaceutical drugs, subsequently supplying counterfeit Ozempic drugs that were seized by the US FDA, and creating false documentation showing legitimate pharmaceutical chains.
The prosecution alleged that the applicant used documents from the Courts to lend legitimacy to fraudulent agreements.