Latest news with #Baheti
Hindustan Times
20-05-2025
- Hindustan Times
65-year-old woman loses ₹67 lakh in cyber fraud, accused arrested
MUMBAI: The South Cyber police arrested a man from Dahisar in connection with a cyber fraud wherein two elderly sisters were allegedly duped of ₹67 lakh under the pretext of share market investment. The accused were identified as Salid Mohammad Shaikh and Mohit Bhojraj. Bhojraj, a Dahisar resident, was handling over 20 bank accounts and had provided Shaikh with 19 bank accounts to use in the cyber fraud. Shaikh, a resident of Mangaluru in Karnataka, is absconding, said a police officer. According to the police, the complainant, 65, lives in the Girgaon area with her mother and sister. Her mobile number was added to a WhatsApp group in January, and the group members shared screenshots of their investment profits. The complainant, influenced by the screenshots, discussed investing with her sister. The group admin, who went by Shruti Baheti, reached out to the complainant to boast about testimonies from her clients and convinced her to invest. The two sisters, sold by the opportunity, began working on formalities for opening a Demat account as per Baheti's instructions. They began investing money by transferring a total of ₹67.15 lakh directly to cyber frauds. Their virtual accounts showed profits of ₹1.88 lakh, added the official. They suspected foul play after they could find a way to withdraw the money. They contacted Baheti and explained that they needed to withdraw ₹50 lakh. Baheti then told them that they must pay tax on the profits first. The cyber fraud began forcing them to transfer more money under the pretext of charges till the sisters realised they were duped, said the official. After they approached the police, they reached out to the police helpline 1930 and a case was registered with the South Cyber police station under the charges of cheating along with IT Act. During investigation, the police followed the money trail from bank transactions. It was found that ₹16 lakh was deposited to an account owned by Hemant Mali, a vegetable business trader. However, Bhojraj was the one operating this account.
Time of India
11-05-2025
- Business
- Time of India
2 sr citizens duped of 67L in investment fraud, 1 held
Mumbai: A 24-year-old man was arrested by the Cyber Police in connection with a Rs 67 lakh investment fraud where the bank account of a farmer was used to receive money swindled from two elderly women. Police are now looking for his associate who is based out of Karnataka. The two elderly women are siblings and live in Girgaon. They had invested in mutual funds through a financial services company. On Jan 16, one of the sisters found her phone number being added to a WhatsApp group having the same name as the financial services company. The group admin was an "investment advisor" named Shruti Baheti. She offered the elderly woman a deal to earn a handsome profit by investing in a block shares deal. In March, Baheti convinced the woman into downloading an app for making investments. The woman initially paid Rs 50,000 which showed up in her account on the app. Once her sister found out, she too downloaded the app and got in touch with Baheti for investment opportunities. Both the sisters invested Rs 67.15 lakh collectively. On April 5, the sisters told Baheti that they wanted to withdraw Rs 50 lakh. But she warned them of hefty taxes and penalties payable at the time of withdrawal. The sisters soon gathered that they had been taken for a ride when they could not withdraw any money. Get the latest lifestyle updates on Times of India, along with Mother's Day wishes , messages , and quotes !
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Business Standard
06-05-2025
- Business
- Business Standard
Alembic Pharma Q4 profit dips 12%, revenue rises 17% to Rs 1,770 cr
Vadodara-based Alembic Pharmaceuticals posted a 12 per cent year-on-year drop in net profit for the fourth quarter of the 2024–25 financial year to Rs 157 crore as its net sales increased by 17 per cent to Rs 1,770 crore. The Ebitda was up 9 per cent to Rs 286 crore, with a resulting Ebitda margin of 16 per cent. Profit before tax rose 5 per cent to Rs 192 crore. The company took some write-offs on impaired assets in previous years, which had brought down the taxation, clarified R K Baheti, group CFO, Alembic. Shaunak Amin, MD, Alembic Pharmaceuticals, said that the India-branded business displayed improved performance backed by specialty therapies. 'Our Ex-US business delivered strong growth of 43 per cent across all markets, whereas the US business grew 20 per cent during the quarter,' he added. Alembic has been focusing on markets like the EU, Canada, Australia, and Latin American countries for the last two years, and this has now yielded results, Baheti said, adding that the US still contributes around 60 per cent of their Rs 1,200 crore international generics business. In the coming quarters, the company plans to grow its US business too. The India-branded business grew 8 per cent to Rs 545 crore for the quarter, during which it made four launches in Q4FY25 and 14 launches in total for the year. The animal health business grew 19 per cent for the quarter. Alembic saw a 4 per cent growth in its active pharmaceutical ingredients (API) business for the quarter, but the API business declined 9 per cent for the full year to Rs 1,133 crore. 'We lost some large customers due to pricing competition. We have started working on that, and expect that the API business will be back on the growth path in FY26,' Baheti said.
