Face2News/New Delhi
The present case FIR No. 201/21 dated 27.12.2021, u/s 406/420/120B/174A IPC, PS EOW, was registered on the complaint of Mr. Karan Bhatia, Director and Authorised Representative of M/s Ice Dream Global Pvt. Ltd., alleging that Rohit Sharma, President of the Indian Institute of Hemp Association (IIHA), induced his company to invest in an industrial hemp project by presenting lucrative business opportunities and assurances of licences and consultancy support.
Acting on these representations, M/s Ice Dream Global Pvt. Ltd. entered into agreements with IIHA and transferred funds amounting to Rs. 2.16 crores directly to IIHA and further invested about Rs. 50 lacs towards project. However, despite the agreements and financial commitments, no raw material (bhang) was supplied to complainant company M/s Ice Dream Global.
INVESTIGATION: During the course of investigation of the complainant Karan Bhatia of M/s Ice Dream Global Pvt. Ltd. was examined and documents including the Letter of Intent, NDA/MOU, and Supply Agreement were collected, which showed that accused Rohit Sharma, President of IIHA a Trust, undertook to provide consultancy and facilitate supply of bhang for five years. Financial trail confirmed that IIHA received Rs. 2.16 crores from M/s Ice Dream Global (Rs.16 lakhs consultancy and Rs.2 crores advance). He was the President of IIHA, signatory of the bank account into which the complainant’s funds were credited, and the person who executed the agreements. The funds were misappropriated by him and diverted into his personal accounts and into companies where he had directorial and financial control. His misrepresentations to the complainant, coupled with his failure to supply raw material or obtain statutory approvals, demonstrate fraudulent intent from inception.
MODUS OPERANDI: Accused Rohit Sharma presented an overly optimistic picture, claiming to have conducted extensive research on industrial hemp and that he was in the process of securing a cultivation license from the Uttarakhand Government. However, investigation has revealed that Sharma was never in a position to supply any raw material, as he failed to produce a valid license or any evidence of cultivation. This clearly indicates his mens rea and deliberate intent to misappropriate the complainant’s funds.
ARREST: The accused Rohit Sharma deliberately evaded the investigation and continued to remain absconding, leading to his being declared an absconder on 26.10.2024. Subsequent inquiries revealed that he had fled abroad, following which a Look Out Circular (LOC) was issued against him. Acting on specific information, he was apprehended at IGI Airport on 08.09.2025, and thereafter, two days’ Police Custody (PC) remand was obtained.
KNOW THE ACCUSED: Accused Rohit Sharma S/o Late Sh. Desh Prakash Sharma, R/o South End Floors, Sohna Road, Sector-49, Gurugram, Haryana, age 44 years did his schooling in Gurugram, Haryana, and later joined a Commerce/Management course but left it in the second year. In 2010, he went to Cologne, Germany, where he attended a programme on Industrial Hemp and gained knowledge in this field. He first worked in call centres and later in advertising and marketing with Glitz Production, Lajpat Nagar, before starting his own business called Ocean Production. In 2015, he got registered a Trust in the name of the Indian Institute of Hemp Association (IIHA) to promote industrial hemp, give consultancy, and work on policy matters. He presented himself as a consultant in this field and worked with different companies. As President of IIHA, he made consultancy and supply agreements with M/s Ice Dream Global Pvt. Ltd. and was also connected with Daoji Agro Pvt. Ltd., CanIndica Pvt. Ltd., and Hemp Pharma Amro Pvt. Ltd. and induced M/s Ice Dream Global Pvt. Ltd. to invest about Rs. 2.16 crores directly into the hemp project, but failed to supply the promised raw material (bhang) under the agreement.
After the registration of the case, the accused fled to Canada along with his wife and child, while his parents continued to reside in Gurugram. Recently, his father passed away.
The accused Rohit Sharma has also been found involved in another case registered in Rajasthan on charges of cheating.
FIR 218/23 u/s 406/420/120B IPC at PS Mahesh Nagar, Jaipur South, Rajasthan
(AMRUTHA GUGULOTH) IPS,
ADDL. COMMISSIONER OF POLICE,
ECONOMIC OFFENCES WING,
NEW DELHI
