Mumbai Crime: Walkeshwar Jeweller Cheated Of ₹10.90 Lakh Gold-Diamond Ornaments Given On 'Approval Memo' Basis

Mumbai: A jewellery trader from Walkeshwar has allegedly been cheated of gold and diamond ornaments worth ₹10.90 lakh by a man who took the valuables on an “approval memo” basis and later failed to return either the jewellery or the payment. A case has been registered at Gamdevi Police Station.

Accused Took Items on Approval Memo

According to the complaint filed by Hemang Mukesh Shah, a businessman residing at Nepean Sea Road, Walkeshwar, he is engaged in the business of gold and silver jewellery trading. He runs a company named Supercarats Gem Art Private Limited located on Hughes Road, which deals primarily in the purchase and sale of jewellery.

Shah stated to police that he had known Vaibhav Paresh Thakkar (35), a liaisoning professional residing at Dosti Realty Building, Wadala, since July 2024. Thakkar frequently visited Shah’s office and developed friendly relations with him and his team. Over time, Thakkar began purchasing jewellery and diamonds from Shah’s company and associated firms.

Accused Claimed Sale, Then Evaded Payment

Recently, Thakkar informed Shah that a minister from Karnataka was interested in buying jewellery and requested that some items be given to him on an “approval memo” (also known in the trade as ‘Jangad’ or custody receipt) basis. He assured Shah that the ornaments would either be purchased after approval or returned within three to four days.

Trusting him, Shah handed over the following items including One diamond-studded ring (1.51 carat diamonds, 5.5 grams gold) worth ₹90,000, one gold diamond-studded bracelet (6.70 carat diamonds, 10.80 grams gold) worth ₹3,50,000 and one gold diamond-studded bracelet with coloured stones (15.21 carat diamonds, 15.68 grams gold, 1.57 carat colour stones) worth ₹6,50,000. The total value of the jewellery was approximately ₹10.90 lakh.

However, Thakkar neither returned the jewellery within the stipulated time nor made the payment. When contacted, he allegedly claimed that the ornaments had been sold and promised to pay the full amount soon. Despite repeated follow-ups, he continued to evade Shah and failed to settle the dues.

Similar Complaints Reported Against Accused

Shah further alleged that Thakkar stopped answering calls and used WhatsApp’s 24-hour chat delete feature, making it difficult to retain records of their communication. For the past two to three months, Thakkar has reportedly remained unreachable. Shah later learned that similar complaints have been filed against Thakkar by others.

Based on the complaint, Gamdevi Police have registered a case against Vaibhav Paresh Thakkar for cheating and initiated further investigation.

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