Chikkadpally jeweller, family booked for Rs 9 crore fraud

Police received a complaint from an Abids based proprietor Avinash Kumar Agarwal, whom the accused allegedly owed a payment of Rs 4.5 crore.

Hyderabad: The owner of a jewellery showroom in Chikkadpally has been booked by the Central Crime Station (CCS) along with her husband and father for allegedly duping three city-based jewellers out of Rs 9 crore.

According to a report in the Times of India, CCS police received a complaint from an Abids-based proprietor, Avinash Kumar Agarwal, on Thursday, September 24, who alleged that the accused owed a payment of Rs 4.5 crore.

Agarwal said that he had been supplying gold ornaments to the Chikkadpally showroom owner K Srija since February this year. He said that Srija and her husband Naveen initially made prompt payments; however, dues for 1,800 grams of gold jewellery remained pending by August.

In the last week of August, Srija requested a large consignment of gold ornaments for an exhibition in Visakhapatnam after clearing payment for 800 grams of jewellery.

After entrusting another 2,252 grams of gold worth Rs 3.5 crore, Srija’s total dues went up to Rs 4.5 crore, the complainant alleged.

Naveen had assured that the dues would be cleared after their loans were processed by the bank; however, no payment ever came. The accused had similarly induced two other city-based jewellers to provide ornaments worth Rs 3.44 crore and Rs 1.2 crore respectively, the complainant stated.

A case has been registered under sections 318 (4) (cheating), 316 (2) (criminal breach of trust), 351 (2) (criminal intimidation) and 61 (2) (criminal conspiracy) read with section 3(5) (common intention) of the Bharatiya Nyaya Sanhita (BNS).