Mumbai: A chemical trader from Andheri, Mohanlal Agarwal, has accused Kalpit Tanna, the owner of M/s Reaction Chemicals, of committing financial fraud amounting to ₹2.41 crore. Agarwal, who runs Agarwal Chem Products (India) Pvt. Ltd., has now sought legal action against Tanna.
Agarwal and his wife founded their chemical trading business in 1995 under the name Agrathal Chemical Corporation Ltd., later renamed in 2001. The company, based in Mumbai, supplies chemicals to various industries.
In 2017, Agarwal was introduced to Tanna through an acquaintance, Vishubhai Thakkar. On Thakkar’s recommendation, he began supplying chemicals to M/s Reaction Chemicals. Tanna initially made prompt payments, building Agarwal’s trust and leading to larger transactions.
However, between August 2020 and September 2022, Tanna allegedly purchased chemicals worth several crores but defaulted on dues totaling ₹2.41 crore. Despite repeated follow-ups, the outstanding payments were not cleared.
According to Agarwal, Tanna placed large orders, made partial payments, and later refused to settle the remaining amount. When pressed for dues, Tanna allegedly demanded further supplies before clearing the pending payments. Realizing the deception, Agarwal halted all supplies.
Vikram K. Gandhi, sales manager at Agarwal Chem Products, also attempted to recover the amount but claimed that Tanna stopped responding to calls and messages.
Agarwal accused Tanna of deliberate fraud and breach of trust, alleging that he procured large quantities of caustic soda flakes and other chemicals without making full payments, causing significant financial losses. The businessman has now initiated legal proceedings against Tanna, urging the authorities to investigate the financial irregularities committed by M/s Reaction Chemicals.
