Ahmedabad Man Alleges Two Brothers Cheated Him of Gold Worth ₹17.74 Lakh
Summarized by AI; it may make mistakes. Check important info
Summarized by AI; it may make mistakes. Check important info
A 35-year-old Ahmedabad man has accused two brothers of cheating him of 130 grams of gold jewellery worth ₹17.74 lakh after allegedly taking it as collateral for a loan and failing to return it.
The complainant, Jignesh Jaysukhbhai Hirpara, a resident of Palak Paradise in Nikol and a manager at Mahindra Finance, lodged a complaint with Chandkheda Police. He alleged that Bhavesh Bhand and his brother, Balram Bhand, took his wife’s gold ornaments on the promise of arranging a loan at a lower interest rate.
Gold Handed Over After Loan Settlement
According to the complaint, Hirpara had pledged his wife Sharmilaben’s gold jewellery at finance company branches in Naranpura and Shivranj in 2024 to meet financial difficulties. Bhavesh, a former colleague at HBD Finance in Naranpura, later offered to help him secure a loan at a lower interest rate with his brother’s assistance.
The brothers allegedly promised to settle the existing loan, take the jewellery as collateral and arrange additional funds if needed. On January 9, 2025, Balram reportedly deposited around ₹1.4 lakh into Hirpara’s loan account. After settling the loan and retrieving the ornaments, Hirpara handed over 13 tolas (130 grams) of 22-carat gold jewellery to the brothers at their residence in Upavan Residency, Chandkheda, between 6 pm and 6.30 pm. The brother reportedly
When Hirpara asked for a receipt, the brothers allegedly told him that the original finance company’s gold loan receipt, which he had shared on WhatsApp, would serve as proof of the transaction.
Jewellery Allegedly Auctioned After Loan Default
Hirpara alleged that he continued paying interest from January to July 2025. In August, he approached Balram to recover the jewellery and offered to repay the entire outstanding loan amount. However, Balram allegedly told him that returning the ornaments would take time.
Despite repeated calls and visits, the brothers allegedly delayed the matter. Hirpara and his wife later met them near Jhundal Circle, where the brothers reportedly assured them that the jewellery would be returned within two to three days.
The complainant alleged that he later learnt that the brothers had pledged the jewellery at a finance company’s Chandkheda branch. The ornaments were subsequently auctioned after the loan obligations were not met, according to the complaint.
Hirpara has accused the brothers of acting together to cheat him and dishonestly misappropriate the jewellery entrusted to them. Chandkheda Police have registered a case, and further investigation is under way.
