The Economic Offences Wing (EOW) of Delhi Police has issued a Lookout Circular (LOC) against Swapnadip Roy, a Dubai-based Indian national, for his alleged involvement in an international racket involving the sale of counterfeit Ozempic weight-loss drugs. Proceeds from the operation are estimated at nearly Rs 157 crore.
Police sources confirmed that the LOC was issued to restrict Roy's international travel and facilitate his arrest. It is believed that Roy is currently in Dubai. The action followed the questioning of Vicky Ramancha, CEO of a company and one of the main accused, who allegedly identified Roy as the key figure behind the operation.
Investigators revealed that Roy, an Indian passport holder from Tripura, has not cooperated with the probe despite repeated notices and formal summons issued under the Bharatiya Nagarik Suraksha Sanhita (BNSS). He has now been named a key accused as police investigate a conspiracy spanning India, Dubai, China, and the United States.
The case was registered based on a complaint by a US-based company, which alleged it was cheated of approximately $18.8 million (about Rs 157 crore) in a deal for 1.25 lakh doses of Ozempic, a globally sought-after antidiabetic and weight-loss drug. The company claimed it received counterfeit or misbranded drugs instead of genuine medication. The consignment, shipped from China, was later seized by US authorities.
Police suspect the operation was supported by forged documents, including fake government credentials and fabricated notarized papers. Investigators also alleged that funds linked to the transaction were routed through a Dubai-based entity associated with Ramancha.
In a status report filed before the Delhi High Court in September last year, Delhi Police flagged Roy's alleged involvement and accused him of evading the investigation. While Ramancha earlier obtained interim protection from arrest subject to cooperation, police told the court that key financial records, including Dubai bank statements and proof of payments to Chinese suppliers, have not yet been shared.
