Ahmedabad businessman robbed of ₹5 lakhs at knifepoint
Updated: May 21st, 2025
In a shocking incident in Mandvi city, three individuals looted a finance company owner from Ahmedabad in broad daylight, fleeing with a bag containing ₹5 lakhs in cash after threatening him with a knife.
Om Shah, who operates a finance firm in Manek Chowk, Ahmedabad, had posted an advertisement on social media offering to release pledged gold taken as loans. Seeing this, a group of three conspirators from Kutch set a trap and lured Om Shah to Mandvi, Kutch, under the pretense of releasing gold, asking him to bring ₹5 lakhs in cash.
Upon arriving in Mandvi, Shah was led by the accused into a narrow alley, where three men showed him a knife and snatched the bag of cash before fleeing the scene. Mandvi police have launched an investigation.
According to complaint lodged by Shah, a resident of Meghaninagar, Ahmedabad, and co-owner of the “Mahakali” finance firm in Mandvi Pol, Manek Chowk, the robbery occurred around 11.45 am on Monday on the road near Mahila Bagh, heading towards Meghmangal in Mandvi, Kutch.
Shah’s finance company deals in purchasing gold released from bank loans—clients pay off their gold loans, and Shah then buys the released gold at 2% below market value. He had advertised this service on social media. In response to this, Avesh Alimamad Sodha from Salaya contacted Shah, claiming he had gold pledged at Muthoot Fincorp Finance in Mandvi and needed it released.
Shah, along with his two business partners, travelled to Mandvi with ₹5 lakhs in cash. Upon arrival, Sodha claimed the finance office was in a narrow lane inaccessible by car and asked Shah to ride with him on his scooter. He took Shah to a spot where two unknown individuals joined them. Pretending to argue with Sodha over money, they threatened Shah with a knife, took the bag of cash, and fled the scene.
Mandvi police have registered a case against Sodha and two unidentified individuals and have initiated a manhunt to arrest the culprits.
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