Hundreds of suppliers associated with Ahmedabad-based retail chain Osia Hyper Retail Limited are reportedly facing heavy financial losses after several post-dated cheques issued by the company allegedly bounced. The total outstanding dues are estimated to be between Rs 50 crore and Rs 100 crore.
The issue has impacted suppliers connected to Osia Hyper Mart outlets across Ahmedabad and other parts of Gujarat. On April 28, notices issued under the Insolvency and Bankruptcy Code were reportedly pasted outside Osia stores, stating that the company’s assets had come under the control of interim resolution professionals and creditors were barred from entering the premises. Sources also claimed that the company’s operations in Dubai and Abu Dhabi have shut down.
Suppliers alleged that company promoters, including owner Dhirendra Chopra, have become unreachable, with calls unanswered and staff phones switched off. Resolution professionals have reportedly taken charge of offices and retail outlets.
According to distributors, payment delays started after purchases made during June and July 2025. During a meeting with suppliers in September 2025, Chopra had reportedly assured vendors that new investors would infuse more than Rs 650 crore into the business and payments would begin from December 2025. Suppliers were allegedly requested to hold post-dated cheques until the company’s financial condition improved.
However, concerns escalated after multiple cheques dated January 2026 onwards were reportedly dishonoured. The Federation of Gujarat FMCG Distributors Charitable Trust claimed that suppliers in Ahmedabad alone may have suffered losses exceeding Rs 16 crore, while the overall liability across Gujarat could range between Rs 50 crore and Rs 100 crore.
Several suppliers have initiated legal proceedings, with complaints reportedly filed before the Micro and Small Enterprise Facilitation Council against Osia Hyper Retail Limited. Suppliers from Ahmedabad, Vadodara, Rajkot, Gandhidham and other cities have reported substantial unpaid dues and multiple bounced cheques.
Among the affected businesses, Shiv Global Ventures reportedly has pending dues of Rs 9.45 lakh, while Vadodara-based Raj Trade Links has claimed outstanding payments of Rs 91.96 lakh. Ahmedabad-based Bhavani Trading Company also alleged that over Rs 25 lakh remains unpaid, with 21 cheques issued during 2025-26 reportedly returned by Indian Bank due to insufficient balance.
Suppliers further alleged that after deliveries to Osia stores were restricted, a new ‘Cash & Carry’ company was formed in Vadodara in partnership with other individuals, through which goods continued to be procured despite mounting liabilities.
The controversy has also fuelled resentment among distributors amid market speculation about the promoters’ personal spending on luxury properties and high-end vehicles while supplier payments allegedly remained pending.
Osia Hyper Retail Limited, which is a listed company, has also seen sharp fluctuations in its share price. Reports suggest the stock surged from nearly Rs 8 last September to around Rs 33 in January before falling back to nearly Rs 6.21.