Now, Rajasthan gold jewellers demand dues from Rasiklal

Updated: 08 November, 2019 07:22 IST | Vinod Kumar Menon | Mumbai

Jewellery manufacturing unit accuses the company of ordering a pair of stone-studded gold bangles worth over Rs 4.50 lakh and not paying for it

This picture has been used for representation purpose only
This picture has been used for representation purpose only

With more and more victims of the alleged Rasiklal Sankalchand Jewellers scam coming out against the company, it was revealed on Thursday that not only investors, even gold jewellery manufacturers have been duped of money.
A jewellery manufacturing unit in Rajasthan has accused the directors of Rasiklal Jewellers of ordering a pair of stone-studded gold bangles worth over R4.50 lakh, which was delivered within the stipulated time (couple of weeks before they downed shutter), and not paying for it.

Duped of Rs 4.50L

"This was the first order Rasiklal placed with us. We have met them a couple of times at jewellery exhibitions organised by bullion associations," said Rajesh Jain (name changed) from the Rajasthan unit.

Jain added, "After we exchanged business cards at one such exhibition, we received a call from them. They said that a valued customer wished to purchase a pair of stone-studded gold bangles, which they wanted us to deliver within a few weeks. We were also asked to make it with our own gold and that they would pay both the making charge and for the gold post delivery."

"As assured, we sent the bangles through courier, and kept waiting for the final approval and payment. But neither was the gold returned nor the payment made. I had to come to Mumbai as they were not answering my phone calls," said Jain.

He further said, "After coming to Mumbai, I tried calling the directors and one of them even answered my call. He assured to pay the money, but later he never received my calls." "I even found the jeweller's address and visited the house in Neelkanth Valley. The women in the house said that the men were out and even they were not being able to reach out to them," he said.

Meanwhile, Jain found out that the company had duped a couple of more jewellers in Rajasthan in a similar way. But they did not want to file a complaint in Mumbai as it would be difficult for them to follow it up.

Joint complaint

"We will appeal to the jewellers in Rajasthan, who never received their payments or gold, to come together and file a complaint with the Rajasthan police. We trusted Rasiklal Jewellers but the way they duped us, they'll now have serious trust issues with the bullion market," explained Jain.

"I was told that Rasiklal has not paid his employees their salaries for the past couple of months and he also owes money to Mumbai-based jewellers as well," said another jeweller, whose money is also stuck.

Public notice

Meanwhile, M/s Rasiklal Jewellers issued a public notice in a Gujarati paper through their lawyer. It reads as follows…"Our client has already returned gold/gold ornaments to various persons and further intends to settle all legitimate claims of creditors. Our client has not committed cheating, criminal breach of trust or fraud as alleged and claimed. Our client has immovable properties, which are more than their liability. Hence, they can easily meet all the legitimate claims. The rival businessman has spread false rumours leading to a false complaint and false circulation of news. Our client appeals to public at large to have pertinence and avoid giving importance to false rumours, since our client intends to settle all legitimate/lawful claims of creditors and intents to continue to run the business in the name and style of M/s Rasiklal Sakalchand Jewellers Pvt Ltd."

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First Published: 08 November, 2019 07:13 IST

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