Hyderabad: Jewellery store director arrested for selling gold worth Rs 100 crore to fictitious customers on Nov 8th

[BUDDY]

Hyderabad: Jewellery store director arrested for selling gold worth Rs 100 crore to fictitious customers

The store used fake names and fake addresses, like Delhi's South Extension and Greater Kailash, on the bills. 

 

Ashish Pandey | Posted by Kritika Banerjee

Hyderabad, December 28, 2016 | UPDATED 07:40 IST

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Officers of the Central Crime Station (CCS) Hyderabad today arrested director of Musaddilal Jewellers Private Limited Kailash Chand Gupta for allegedly selling gold worth Rs 100 crore to fictitious customers.

 

 

Here is how investigating agencies tracked the case:

1. According to sources, the jeweller used fake names and fake addresses on the bills. A few bills, said sources, had Delhi's Kailash Colony, Greater Kailash and South Extension as customer addresses.
2. The jewellery store had claimed that on the night of November 8 customers had bought gold worth Rs 100 crore, all in demonetised currency.
3. A case was registered against the three directors of the famous jewellery store in the posh Banjara Hills locality. The directors are Kailash Chand Gupta, Nitin Gupta and Nikhil Gupta. While Kailash Chand has been arrested, the other two are absconding.
4. The arrest was made after the Income Tax department approached CCS and lodged a complaint alleging fraud by the jeweller.
5. Earlier, the Income Tax department had conducted raids on the jewellery store and recovered bills showing irregularities. All the bills showed purchases of under Rs 2 lakh. PAN number is not mandatory for jewellery purchase of less than Rs 2 lakh.
6. The CCTV footage recovered from the jewellery store showed that the shutters were downed at 8 pm on November 8. The bank account where all the money was transferred had been frozen.

[solman]

[TOM_BHAYYA]

Muzikkkk started 

[TampaChinnodu]

Just now, TOM_BHAYYA said:

Muzikkkk started 

[eladom]

1 hour ago, TOM_BHAYYA said:

Muzikkkk started 

Yes....Rofl...Fake gold aithe inks muzikkk...Evariki cheppukoleru...

[ronitreddy]

Nov 8 - Demonetization started..Ade roju manodu brain ki pani cheppi ..thelivi use chesi Oka plan esi dani antha tondaraga execute cheyadam..Super amma

[yomama]

6 minutes ago, ronitreddy said:

Nov 8 - Demonetization started..Ade roju manodu brain ki pani cheppi ..thelivi use chesi Oka plan esi dani antha tondaraga execute cheyadam..Super amma

100c ante gold traders ki 20% margin untundi ga odemma ante just e month lo oka 30c esuntadu ga profit 🤣

[Luke]

[ronitreddy]

1 hour ago, yomama said:

100c ante gold traders ki 20% margin untundi ga odemma ante just e month lo oka 30c esuntadu ga profit 🤣

The jewellery store had claimed that on the night of November 8 customers had bought gold worth Rs 100 crore, all in demonetised currency.

just one night vuncle

[SonaParv_522]

super star ani janala chetha pilipinchukune oka star hero bharya kuda ee contribution lo simha bhagam undani viswasaneeya vargala bhogatta

[TOM_BHAYYA]

2 minutes ago, SonaParv_522 said:

super star ani janala chetha pilipinchukune oka star hero bharya kuda ee contribution lo simha bhagam undani viswasaneeya vargala bhogatta

Maa namratha madam alaantidhi kaadhu

[SonaParv_522]

1 minute ago, TOM_BHAYYA said:

Maa namratha madam alaantidhi kaadhu

mari elaantidi?

[bhaigan]

3 hours ago, TOM_BHAYYA said:

Muzikkkk started 

KTR antava

[micxas]

15 minutes ago, SonaParv_522 said:

super star ani janala chetha pilipinchukune oka star hero bharya kuda ee contribution lo simha bhagam undani viswasaneeya vargala bhogatta

 

12 minutes ago, TOM_BHAYYA said:

Maa namratha madam alaantidhi kaadhu

 

11 minutes ago, SonaParv_522 said:

mari elaantidi?

[TOM_BHAYYA]

14 minutes ago, SonaParv_522 said:

mari elaantidi?

Elaaantidho cheppanu kaani ilaantidhi aithe kadhu ani cheppagalanu