Uttar Pradesh Entrepreneur Accused of Illegal Cough Syrup Trading Worth Rs 100 Crore

It was in 2018 that Shubham Jaiswal joined the family-run pharmaceutical business in Varanasi. A graduate of Banaras Hindu University, the 33-year-old spent the next few years working alongside his father, learning the ins and outs of the trade, before deciding to expand operations beyond Uttar Pradesh. In 2023, he floated a firm called Saili Traders in Ranchi in his father’s name — and allegedly plunged into large-scale illegal trading of cough syrup. “He bought cough syrup stock worth around Rs 100 crore and routed most of the stock to Bangladesh and Nepal by falsely recording sales in UP and other places using fake bills and a maze of shell firms,” a police officer said.