Zaveri Bazaar Jewellery Scam: ₹12.77 Crore Fraud Case Registered Against Trader Under New BNS Laws | Representational Image
Mumbai: Zaveri Bazaar jeweller Shailesh Kantilal Jain (56), a resident of Marine Drive, has filed a police complaint against another jeweller, Birju Kishore Kumar Salla (45), accusing him of cheating and misappropriating gold, silver, and diamonds worth ₹12.77 crore. The FIR has been registered under Bharatiya Nyaya Sanhita (BNS) Sections 316 and 318, pertaining to criminal breach of trust and cheating.
According to the FIR, Jain—who operates a jewellery shop at Zaveri Bazaar’s Giriraj Building—stated that he had known Salla for several years through family and business ties. The Salla family also runs jewellery businesses in the same area. Their cordial relations had gradually led to a working relationship.
On November 18, 2024, Salla visited Jain’s store and said a customer was interested in antique handcrafted jewellery. Jain agreed to provide the items on an approval basis—a system in which goods are taken temporarily and are either paid for if sold or returned otherwise.
On November 21, 2024, Jain handed over the following items at Salla’s father’s shop:
Gold jewellery: 7,214.6 grams worth ₹5.55 crore
Loose diamonds: 224.90 carats worth ₹8.15 crore
Silver utensils: 32.9 kg worth ₹29.13 lakh
Total estimated value: ₹14 crore
Between November 25 and December 20, Salla returned a portion of the inventory worth approximately ₹1.47 crore, which included some gold jewellery, diamonds, and silver items. However, the remaining stock—including 5,947 grams of gold, 172.85 carats of diamonds, and 18.96 kg of silver worth ₹12.77 crore (as per GST invoices)—was neither returned nor paid for.
Jain claimed he tried to contact Salla multiple times through calls, messages, and Apple iCloud chat. Salla allegedly made excuses—saying he was out of town or in meetings—and eventually switched off his phone. At one point, Salla cited a family medical emergency, even sending hospital photos and reports to justify the delay.
When efforts failed, Jain approached Gamdevi Police Station, where the FIR was registered under BNS Sections 316 (criminal breach of trust) and 318 (cheating). Jain also mentioned in his statement that Salla had previously been jailed in a plane hijack hoax case in Ahmedabad, raising further concerns about his credibility.
Police are now actively tracing Salla’s whereabouts and examining financial records and evidence submitted by Jain, including approval vouchers, GST invoices, cheques, and chat transcripts. The case has stirred concern in Mumbai’s jewellery community, especially in Zaveri Bazaar, where high-value transactions are often conducted based on mutual trust.
Industry insiders are now calling for tighter safeguards and formal documentation in approval-based transactions to prevent similar incidents.
