Shreeji Jewellers Operators Booked In Ahmedabad Over Alleged Exorbitant Interest On Pledged Ornaments
Summarized by AI; it may make mistakes. Check important info
Summarized by AI; it may make mistakes. Check important info
Ahmedabad's Madhavpura police have registered a case against the operators of Shreeji Jewellers in Shahpur for allegedly demanding exorbitant interest on a loan secured against gold and silver ornaments and refusing to return the pledged valuables.
The case was registered under provisions of the Gujarat Money Lenders Act following an inquiry by the District Registrar's office and an order issued by District Registrar Unnati Pandya.
The accused have been identified as the firm's principal money lenders — Kalpanaben Ashwinbhai Thakkar, Ashwinbhai Babulal Thakkar and Nikunj Ashwinbhai Thakkar.
Customer Allegedly Asked For ₹3.70 Lakh To Redeem Jewellery
According to the complaint filed by Mohammad Sarfaraz Ayubkhan Sindhi, a senior clerk at the Office of the Registrar of Money Lenders and District Registrar in Vasna, Shahpur resident Mukeshbhai Ukabhai Chauhan had approached the Registrar's office with a complaint against the firm.
Between 2013 and 2018, Chauhan allegedly took loans totalling ₹1.96 lakh in instalments by pledging 56.69 grams of gold jewellery along with silver bars and jewellery.
The complaint states that Chauhan paid around ₹52,000 as interest on the loan, but was not issued receipts for the payments.
When he later approached the firm to redeem the pledged ornaments, Ashwinbhai Thakkar allegedly demanded ₹3.70 lakh for their release. The complaint further alleges that he retained four bills and did not return the pledged jewellery.
Registrar's Inquiry Finds Other Irregularities
District Registrar's office investigating officers Nilesh D. Metaliya and Keyur G. Patel subsequently conducted an on-site inspection of the firm.
During the inquiry, officials found that Shreeji Jewellers held a money-lending licence valid from 2012 to 2027.
The investigation also uncovered documents relating to another customer, Anand Raju Gadiyel, who had reportedly pledged a 20-gram gold mangalsutra valued at ₹95,000.
An unauthorised estimate bill was allegedly prepared in the transaction. It contained a handwritten note stating that interest had to be paid monthly and that a 3 per cent rate would apply if the interest was paid in a lump sum.
Accused Allegedly Failed To Cooperate
According to the complaint, investigating officers issued repeated notices to the accused, asking them to appear and produce documentary evidence relating to the firm's accounts.
The accused allegedly failed to appear and did not provide the required records.
Following their alleged non-cooperation and the findings of the inquiry, District Registrar Unnati Pandya issued an order for legal action.
Madhavpura police subsequently registered a case against the three accused under the Gujarat Money Lenders Act and launched an investigation into the alleged irregularities.
