The Economic Offences Wing (EOW) of Delhi Police has arrested an MBBS doctor from AIIMS and his sister for cheating on the basis of forged documents and causing wrongful loss to another doctor to the tune of Rs 16 crores approximately.
The accused have been identified as Dr Cherian and his sister Meenakshi Singh, a resident of Bengaluru, Karnataka. The accused person Dr Cherian completed his MBBS from AIIMS, Delhi and Meenakshi Singh completed her B.E. (Computer Science) and MBA from IIM.
Both were arrested from a resort located in Dindigul, Tamil Nadu, while they were trying to escape the investigation and were at large.
According to the Police, both the accused siblings, who came together along with friend and partner Dr Gandharv Goyal to start an app-based business structured on Artificial Intelligence (AI) in the field of healthcare. However, when investment flourished in the company, both the accused persons ousted Dr Gandharv Goyal on the basis of forged and fabricated documents.
"It is a case of cheating, criminal breach of trust by the director and forgery with the other director and partner Dr Gandharv Goyal on the basis of forged documents to re-purchase the shares of Dr Gandharv Goyal for a meagre amount of Rs. 900 only. The approximately same percentage of shares were issued to fresh investors for a total consideration amount of Rs 16 crores approx. Therefore, causing wrongful loss to the partner and director Dr Gandharv Goyal to the tune of Rs 16 crores approx," it said.
A case was registered on the complaint of Dr Gandharv Goyal, a resident of Noida and an investigation was initiated.
During the investigation, it came to light that the complainant was among the directors and shareholders of "Synapsica Technologies Pvt. Ltd." having its office at Jasola, Delhi. Both the accused became Directors and shareholders in the said company.
In the month of December 2019, the Company became successful and got selected in Y-Combinator (the world's best accelerator program) and also went on to raise an investment of Rs 5 Crores approximately from various investors.
Further, a Company was also incorporated in the USA in the name of "Synapsica Healthcare Inc." for expanding the business in the USA and a subsidiary company of Synapsica Healthcare Inc was incorporated in India in the name of Synapsica Healthcare Pvt. Ltd. for expanding the business in India.
The Police said that the accused persons Dr Cherian and Meenakshi hatched a criminal conspiracy and on the basis of forged signatures of Dr Gandharv Goyal, created with the help of DocuSign append acquired his shares.
"During the course of the investigation, it was revealed that the accused persons Dr Cherian and Meenakshi after hatching criminal conspiracy between them floated a company at the US to attract more investors in their company Healthcare Pvt. Ltd. and later on re-purchased the share of Dr Gandharv Goyal in the company M/s Synapsica Healthcare Inc., on the basis of forged signature created by DocuSign app of Gandharv Goyal. Later on, they issued the same percentage of shares against the total consideration amount of Rs 16 crores approx. to fresh investors from India as well as the USA," the police said.
During the investigation all the share agreements and term sheets were seized from the accused persons mentioned above, ROC data obtained and analysed, bank statements taken and analysed and minutes book obtained and analysed.
A case has been registered under Sections 409, 420, 468, 471 and 120-B of the Indian Penal Code (IPC) at PS EOW, New Delhi.
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