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.