India, Feb. 6 -- Alkem Laboratories, a multinational pharmaceautical company headquartered in Mumbai, has been duped of Rs.22.31 crore by unidentified cyber frauds. The frauds impersonated officials from the company's subsidiary in the United States and convinced officials in Mumbai to transfer Rs.51.30 crore to them, but the US police subsequently seized Rs.28.98 crore from the defrauded amount, which was refunded to the firm, officers from Mumbai police told Hindustan Times.

According to the police, the transaction occurred on October 27, 2023, two days after Alkem's New Jersey-based subsidiary, Ascend Laboratories LLC, paid Rs.51.30 crore to the parent firm towards material supplied between November 2022 and January 2023.

On 27 Octob...