New Delhi, Aug 12 (PTI) A Delhi court has dismissed the anticipatory bail plea of a man accused in a multi-million dollar international scam involving the supply of counterfeit pharmaceutical drugs, specifically anti-diabetic drug Ozempic, to foreign entities.
Additional sessions judge Saurabh Partap Singh Laler, who was hearing the pre-arrest bail plea of accused Vicky Ramancha, observed swift legal action against pharmaceutical crimes was essential to maintain India's position as the "pharmacy of the world".
"The supply of counterfeit pharmaceuticals represents a direct threat to public health and safety. Swift legal action against pharmaceutical crimes is essential for maintaining India's position as the pharmacy of the world and protecting legitimate manufacturers from regulatory backlash," the court's August 11 order said.
The accused was stated to be a part of "a sophisticated transnational fraud operation" that purportedly caused financial losses exceeding USD 18.8 million (over Rs 164 crore) to the complainant company, J Assure Global LLC.
The court noted alleged supply of counterfeit pharmaceutical drugs endangering public health, complex money laundering operations across multiple jurisdictions, and a systematic criminal conspiracy.
On the point of jurisdiction, the court noted Ramancha allegedly used Indian legal systems to lend legitimacy to fraudulent operations and evidence suggested "strategic planning and coordination" from the national capital.
"Modern criminal law recognises that transnational crimes cannot escape prosecution merely because they span multiple jurisdictions."
Calling India's pharmaceutical sector among the "most valuable economic and strategic assets", contributing significantly to national GDP, the court underlined several factors against the grant of the relief.
The accused was stated to be substantial flight risk, given the international operations and financial resources involved, besides the potential for evidence tampering and witness intimidation.
"The discretionary remedy of anticipatory bail cannot be granted in circumstances where allegations involve grave offences against public health and safety, international ramifications threaten India's pharmaceutical industry reputation, a complex investigation requires custodial interrogation and international cooperation, and (when) the grant of bail would undermine public confidence in the criminal justice system," the order said.
Dismissing the plea, the judge said that the case was a reminder that the country’s emergence as a global pharmaceutical leader carried with it responsibilities to maintain the highest standards of quality, integrity, and legal compliance.
The court, however, clarified dismissal of the plea did not mean that the accused had to be arrested.
"The investigating agency (economic offences wing of Delhi Police) shall exercise the power of arrest only as a last resort, strictly for the purpose of investigation," it added.