The Patiala House Court has refused to grant anticipatory bail to businessman Vicky Ramancha, the alleged mastermind behind a sprawling $18.8 million international scam tied to counterfeit doses of the anti-diabetic drug Ozempic.
The judge noted that the alleged fraud was not just about money—it posed a direct danger to public health and risked tarnishing India’s reputation as the “Pharmacy of the World.” With the nation’s pharmaceutical industry described as a “strategic asset” requiring protection, the court made it clear that swift, uncompromising action against such crimes was necessary.
According to a complaint by US-based Assure Global LLC, Ramancha and his associated companies in Dubai and the United States contracted to supply 125,000 Ozempic doses. Assure Global claims it was persuaded by promises of political connections and notarised documents linked to Chinese and Hong Kong suppliers. But when the shipment arrived in the US, the Food and Drug Administration seized it—declaring the drugs counterfeit.
The alleged deal involved $18.8 million in payments, now at the heart of a criminal probe by Delhi Police’s Economic Offences Wing, initiated after a May court order.
Rejecting the bail plea, the court emphasised that the cross-border nature of the allegations involved “mixed questions of fact and law” that demanded a thorough investigation before any relief could be considered.
The case continues to unfold, carrying both legal and reputational consequences that stretch far beyond India’s borders.
