Two brokers flee with 132 g of gold jewellery from Itwari bullion shop in Nagpur

Nagpur: A case has emerged from Itwari's bullion market, where business worth crores is done every day amid gold and silver, and it has raised questions about trust among traders. It concerns Gulabchand Sahebلال Jewellers.

The shop is run by Uttam Phoolchand Kashyap, 63. It is an ancestral shop said to be about 63 years old. The accused brokers allegedly took 132 grams of gold jewellery from it on the pretext of showing it to customers, and then disappeared.

The bullion market has an old way of doing business. Small traders and brokers take jewellery from larger shopkeepers and show it to customers. When a sale is made, the shopkeeper is paid for the jewellery. The accused, Prasanna Prafulla Saraf and Prafulla Premchand Saraf, residents of the Nikalas Mandir premises in Lakadganj, are alleged to have taken the jewellery under this arrangement. Kashyap is a wholesale jewellery trader.

Both signed the memo register of Kashyap's shop when they took the jewellery. After the jewellery was sold, the trader did not receive the money. The 132 grams of gold is worth Rs 21.62 lakh. Despite Kashyap asking repeatedly for the money, the accused did not pay.

Kashyap finally filed a complaint at Tehsil police station. Police have registered a case and begun an investigation.