shot-button
Subscription Subscription
Home > Mumbai > Mumbai News > Article > FIR filed against Ghatkopar jewellers who may have swindled Rs 300 cr

FIR filed against Ghatkopar jewellers who may have swindled Rs 300 cr

Updated on: 03 November,2019 07:10 AM IST  |  Mumbai
Anurag Kamble |

Nikunj Patel has alleged that he has been duped of Rs 60.98 lakh, which he invested in various schemes offered by the jewellers

FIR filed against Ghatkopar jewellers who may have swindled Rs 300 cr

Worried investors sitting inside Rasiklal Sankalchand Jewellers

Failing to return the investment amount to the investors, a first information report (FIR) has been filed against the directors of Rasiklal Sakalchand Jewellers at Pant Nagar Police Station on Saturday night. A Ghatkopar resident has complained that he has been duped of Rs 60.98 lakh. According to an estimate, multiple persons invested around Rs 300 crore in different schemes offered by the jewellers.


On the night of October 30 and October 31, investors thronged Rasiklal Sankalchand Jewellers on MG Road demanding that their money be returned. The investors were led by BJP MP Manoj Kotak, and newly elected MLA Parag Shah. Hundreds of investors have deposited money in gold programmes of the jeweller. Most of them are said to have made the payments in cash, which the jeweller used to buy gold.


A time of 24 hours was given to the director of the jewellers, Jayesh Shah, who allegedly failed to return the invested amount. Finally, Nikunj Patel, a Ghatkopar resident, registered a complaint at Pant Nagar Police station. "As per the complaint, we have registered an offence against the directors of Rasiklal Sakalchand Jewellers under IPC sections 406 (criminal breach of trust), 420 (cheating) and 34 (common intention)," said ACP (Ghatkopar division) Kundlik Nigade.


Catch up on all the latest Mumbai news, crime news, current affairs, and also a complete guide on Mumbai from food to things to do and events across the city here. Also download the new mid-day Android and iOS apps to get latest updates

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!


Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK