In a significant case of alleged fraud within Mumbai’s jewellery industry, a father-son duo, Kalpesh Jain and his son Pranat, proprietors of Padmavati Jewellers in Chinchpokli East, along with their employee, Nilesh Ufhale, have been accused of misappropriating 2,096 grams of gold valued at approximately Rs.1.71 crore. The complaint was lodged by Bharat Jain, a jeweller operating from Zaveri Bazaar in South Mumbai.
Background of the Allegation
Bharat Jain, who crafts jewellery for prominent brands such as Malabar Gold, Bima Gold, and Navratna Gold, received an order on November 15 to produce bracelets, chains, rings, and bangles for Malabar Gold. To fulfill this order, he entrusted the task to Padmavati Jewellers, managed by Kalpesh and Pranat Jain. Their worker, Nilesh Ufhale, was present during all meetings and is alleged to be part of the conspiracy.
Sequence of Events
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November 15: Bharat Jain provided the required gold to Padmavati Jewellers, with an agreement that the finished jewellery would be delivered within ten days.
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November 23: Upon receiving additional orders from Malabar Gold, Jain supplied more gold to Kalpesh and Pranat for the new pieces.
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December 3: Padmavati Jewellers delivered approximately 1,000 grams of the finished jewellery. When questioned about the remaining pieces, the father-son duo cited various reasons for the delay.
Allegations of Deception
As per the complaint, when Bharat Jain attempted to follow up on the pending jewellery, he found Kalpesh’s phone switched off. Contacting Pranat, he was informed that a worker from Kolkata had absconded with about five kilograms of gold, and Kalpesh had traveled to Kolkata to apprehend the individual. Suspicious of this claim, Jain visited the Kalachowki police station, under whose jurisdiction Padmavati Jewellers operates, only to discover that no such theft case had been registered.
Partial Restitution and Legal Action
Facing persistent inquiries, the accused returned 500 grams of gold to Jain on January 2. However, with a significant amount still unaccounted for, Bharat Jain filed an official complaint. Subsequently, on February 26, a case was registered against Kalpesh, Pranat, and their employee Nilesh Ufhale.
Legal Proceedings
The accused have been charged under Sections 316(2) (punishment for criminal breach of trust) and 318(4) (cheating) of the Bharatiya Nyaya Sanhita, 2023. Currently, they have secured anticipatory bail.
Industry Implications
This incident has sent ripples through Mumbai’s jewellery sector, especially within the Zaveri Bazaar community, which is renowned for its extensive jewellery market. The case underscores the critical importance of trust and transparency in business dealings, particularly in industries dealing with high-value commodities like gold.
Conclusion
As the investigation progresses, the jewellery community keenly awaits further developments. This case serves as a stark reminder of the potential pitfalls in business collaborations and the necessity for stringent verification processes to safeguard against fraudulent activities.
