Puja Kasera Named in Seven Pending Biodeal Cheque-Dishonour Cases

Puja Kasera, an independent director of the issuer, is named in seven pending criminal cases brought by Meteoric Biopharmaceuticals Private Limited against Biodeal Pharmaceuticals Limited. The seven cheque amounts stated in the cases total Rs 29.0309 lakh, and the next listed hearings are November 18, 2026 and January 12, 2027 before the Chief Judicial Magistrate Court in Ahmedabad.

What proceedings name Kasera in the Biodeal cases?

Kasera is named in seven pending cases filed in 2024 by Meteoric Biopharmaceuticals Private Limited against Biodeal Pharmaceuticals Limited through director Kasera and others. The prospectus places all seven matters in its disclosure of criminal proceedings against the issuer's directors and promoters, and identifies Kasera as “our Independent Director.” Each matter is before the C.J.M. Court, Ahmedabad, meaning the Chief Judicial Magistrate Court.

The seven cases are stated to arise under Sections 138 and 141 of the Negotiable Instruments Act, 1881. The disclosure says Meteoric delivered goods to Biodeal according to its requirements, that Biodeal issued the relevant cheques, and that each cheque was returned with the reason “Payment Stopped by drawer.” The supplied disclosure does not report an adjudicated outcome in any of the seven matters.

The case numbers are 64187, 64176, 64198 and 64202 of 2024, plus 49075, 48968 and 48953 of 2024. All name the same petitioner, Meteoric, and the same respondent structure, Biodeal through Kasera and others. That concentration means the seven disclosed proceedings concern one petitioner and one separate company, rather than seven identified claimants or seven proceedings against the issuer itself.

What are the seven cheque amounts and underlying invoices?

The seven cases concern one cheque of Rs 5,753 and six part-payment cheques ranging from Rs 4.78337 lakh to Rs 4.838 lakh. The Rs 5,753 cheque, numbered 258385 and dated March 21, 2024, is linked to an invoice for Rs 5,753; Meteoric sent its demand notice on April 18, 2024. The prospectus says this cheque was stopped by the drawer and gives January 12, 2027 as the next hearing date for case 64187 of 2024.

Three April 2024 cheques were each for Rs 4.838 lakh: cheque 537038 dated April 2, cheque 537039 dated April 4, and cheque 537040 dated April 8. Each is associated with a stated invoice of Rs 14.514 lakh and with Meteoric's April 18, 2024 demand notice. These are cases 64176, 64198 and 64202 of 2024, respectively, and each has January 12, 2027 as its listed next hearing date.

The remaining three cheques were dated February 20, February 22 and February 26, 2024. Cheques 537046 and 537047 were each for Rs 4.838 lakh, while cheque 537049 was for Rs 4.78337 lakh; each is described as part payment against an invoice of Rs 14.514 lakh. Meteoric issued demand notices dated March 2, 2024 for all three matters. Cases 48968 and 49075 have November 18, 2026 as their next listed hearing date, while case 48953 is listed for January 12, 2027.

What is the current status of the seven cases?

All seven proceedings were pending adjudication as of the date of the Red Herring Prospectus. Five cases, 64187, 64176, 64198, 64202 and 48953 of 2024, were listed for January 12, 2027. The remaining two, 49075 and 48968 of 2024, were listed for November 18, 2026.

A pending case is not a reported finding against Kasera, Biodeal or any other named person. The prospectus records the petitioner's account of delivered goods, invoices, cheque issuance, dishonour and demand notices, but does not provide a court decision, settlement, withdrawal or stated monetary award. Whether the matters remain pending depends on proceedings before the C.J.M. Court, Ahmedabad and any developments after the prospectus date.

The disclosed cheque amounts add to Rs 29.0309 lakh, comprising five cheques of Rs 4.838 lakh, one of Rs 4.78337 lakh and one of Rs 5,753. This is an arithmetic total of the cheque values described in the seven cases, not a disclosed damages figure or a court-determined liability. The underlying invoice amounts should not be substituted for the cheque total because the prospectus describes six of the larger cheques as part payments.

How do the Kasera proceedings compare with the issuer's own disclosures?

The issuer reports no criminal proceedings initiated against it and no criminal proceedings filed by it as of the Red Herring Prospectus date. It separately reports one pending Employees’ State Insurance Corporation, or ESIC, matter: a June 11, 2026 notice alleging non-compliance with the Employees’ State Insurance Act, 1948 for September 2022 through March 2023. The issuer replied on July 2, 2026 that the Act was not applicable because employee numbers were below the statutory threshold, and requested ESIC to drop the notice.

The distinction is material to the disclosure structure. The seven Biodeal matters appear under litigation involving directors and promoters, while the ESIC notice appears under statutory and regulatory actions against the issuer. The prospectus also says there were no outstanding tax proceedings, no other pending material litigation against or by the issuer, and no criminal proceedings involving its key managerial personnel and senior management personnel.

The issuer's board adopted its materiality policy on July 26, 2025, setting Rs 40.33 lakh as the lowest applicable monetary threshold for certain other litigation disclosures. That threshold is based on 5% of the average absolute profit or loss after tax for the prior three financial years. The policy expressly treats criminal proceedings separately from that “other litigation” test, so the seven cases are disclosed as criminal proceedings rather than screened solely against the Rs 40.33 lakh threshold.

Conclusion

The disclosed record identifies Kasera in seven pending cheque-dishonour cases involving Biodeal and Meteoric, with seven cheque amounts totalling Rs 29.0309 lakh. The cases are distinct from the issuer's own disclosed litigation position, which comprises no criminal case against the issuer and one pending ESIC notice concerning September 2022 to March 2023.

The immediate dates to watch are November 18, 2026 for two Biodeal matters and January 12, 2027 for five others, as listed in the prospectus. Investors should also watch for a later court update, because the supplied disclosure provides neither a final ruling nor a settlement in any of the seven cases, while the issuer's ESIC reply remains pending before the concerned authority.