Mumbai Court Orders Proclamation Against Jeweller in ₹146 Crore Fraud Case

A Mumbai court has issued proclamation orders against jeweller Jatin Mehta, his wife Sonia Mehta, and another individual in connection with a bank fraud case totaling ₹146.35 crore. Special Judge Nitin V Jiwane approved the Central Bureau of Investigation's request to secure the presence of the accused, who have been absconding since 2018.

The case centers on Mehta's company, Winsome Diamonds and Jewellery Ltd, which allegedly purchased gold from three international bullion banks using guarantees from Canara Bank. According to investigators, the company processed the gold and shipped it to buyers in the UAE but failed to make payments for the imported gold. The company claimed it never received payment from foreign buyers, leading to the invocation of bank guarantees and substantial losses for Canara Bank.

Non-bailable warrants issued in June 2018 could not be executed as the accused individuals were not located. Recent investigations indicate that the accused are currently residing in the United Kingdom. The court noted that the individuals appear to be deliberately concealing themselves to avoid arrest.

While the court approved the proclamation request, it denied the CBI's simultaneous application to attach the accused's properties. The judge determined that the agency had not provided sufficient evidence to justify the asset attachment, though the CBI retains the option to file a fresh application with proper documentation in the future.