Mumbai: Shalin Nitin Kumar Shah, a 42-year-old resident of Malad East and proprietor of Kisha Diamond Export firm, finds himself at the center of a legal imbroglio initiated by the Bandra Kurla Complex (BKC) police. Facing charges detailed in two separate First Information Reports (FIRs), Shah stands accused of orchestrating a complex scheme that allegedly defrauded two prominent diamond traders in Mumbai of a staggering sum totaling approximately Rs. 26 crore.
According to law enforcement officials, Shah’s modus operandi involved soliciting diamonds from the traders under the pretense of facilitating lucrative sales at premium prices. To solidify these arrangements, Shah purportedly furnished the victims with receipts outlining terms for the return of the diamonds or reimbursement at an agreed-upon rate. However, subsequent investigations revealed a pattern of deceit as Shah purportedly ceased communication with the aggrieved parties and ultimately absconded with the valuable gemstones.
In the first instance, the complainant, identified as Harish Kasodariya, a senior executive at Dharmanandan Diamonds Private Limited situated within the Bharat Diamond Bourse in BKC, alleges that Shah acquired a substantial quantity of diamonds valued at approximately Rs. 21 crore between March and September of the preceding year. Similarly, in the second case, Shah purportedly secured diamonds worth Rs. 4.49 crore from the complainant, Nirav Parekh, proprietor of Aneri Jewellers Diamond Company, along with associates operating within the same vicinity.
Law Enforcement Authorities assert that Shah’s actions represent a flagrant breach of trust and have consequently invoked sections 409 (criminal breach of trust by a public servant, banker, merchant, or agent) and 420 (cheating) of the Indian Penal Code (IPC) against him. The Mumbai police have launched a comprehensive investigation and are diligently pursuing leads to locate Shah, who currently remains at large. In light of the severity of the allegations and the substantial financial losses incurred by the victims, the legal proceedings against Shah are poised to unfold as a significant and closely monitored case within the Mumbai judicial system.
