Rajkot bullion trader alleges Ahmedabad businessman absconded with 2.3 kg silver worth over ₹6 lakh

The Khadia police have registered a case of criminal breach of trust against a Vatva-based businessman after a Rajkot bullion trader alleged that the accused absconded with 2.3 kilograms of silver worth more than ₹6 lakh that had been handed over to him for exchange in Ahmedabad's bullion market.

The incident dates back to April 2, when Rajkot residents Rajeshbhai Patadiya and his business partner Sawan Parekh travelled to Ahmedabad for business purposes.

Patadiya, who runs a silver trading business in Rajkot's Soni Bazaar area, told police that he and his partner met Kirit Chandrakantbhai Fichdia, a businessman residing in the Vatva area of Ahmedabad, near the old stock market in Manek Chowk. The complainant stated that he had known Fichdia for nearly 18 years.

The traders handed over 2,300 grams of silver, valued at approximately ₹6.04 lakh, to Fichdia for exchange and asked him to get it processed through market channels.

However, after taking possession of the silver at around 4 pm, the accused allegedly failed to return. The complainant stated that despite waiting for nearly half an hour and making repeated phone calls, Fichdia neither returned nor responded. His mobile phone was subsequently switched off.

Police said the complainant further alleged that despite several attempts over the following weeks to contact the accused and recover the silver, neither the precious metal nor its value was returned.

Khadia police have registered a case against Fichdia and launched an investigation. Police are examining the financial transactions and communication records between the parties to ascertain the circumstances surrounding the alleged breach of trust.

Investigators said efforts are underway to trace the accused and recover the allegedly misappropriated silver. Further investigation is in progress.