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Mumbai: Jeweller in Ghatkopar faces Rs 300 crore crisis

BJP leaders tell top city jeweller to either return investors' money or face police action

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Worried investors sitting inside Rasiklal Sankalchand Jewellers in Ghatkopar East that sports empty showcases

Worried investors sitting inside Rasiklal Sankalchand Jewellers in Ghatkopar East that sports empty showcases

Ghatkopar witnessed high drama on the intervening night of October 30 and October 31, as investors in jewellery schemes 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 totalling at least Rs 300 crore in gold programmes of the jeweller. Most of them are said to have made the payments in cash, using which the jeweller bought gold.

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