The Pant Nagar cops investigating a cheating case by Rasiklal Sakalchand Jewellers has issued a Look Out Circular (LOC) against its directors Jayesh and Nilesh Shah. So far, the police have received nine complaints of cheating against the jewellers.

After Rasiklal Sakalchand Jewellers shut shop as it allegedly ran into losses, several investors had come had demanded their money back. Jayesh had assured them that the money would be returned within 24 hours, but when he failed to do so, a 29-year-old investor filed a complaint on November 2.