Police on Monday arrested Karik Pankaj Shah (33), a resident of Borivali, for allegedly cheating two Mumbai-based jewellery manufacturers of Rs31.58 lakh by misusing the GST certificate of Pune’s well-known jewellery brand, Chandukaka Saraf.
According to investigators, Shah, who previously worked in a jewellery shop, was aware that several companies operating in the SEEPZ area were eager to do business with reputed brands. Exploiting this, he targeted firms keen to associate with Chandukaka Saraf, despite other major brands already operating in the region.
On August 8, Shah allegedly posed as an official from the International Gemological Institute (IGI) and visited the Chandukaka Saraf showroom in Pune. Under the pretext of verification and updates, he obtained a copy of the store’s GST certificate from the manager via WhatsApp.
The following day, Shah contacted two jewellery manufacturing firms — Money Jewels Expert with Better Diamond and Kalista Jewellers — impersonating Chandukaka Saraf. Claiming he was opening two new showrooms, he placed urgent orders for gold and diamond ornaments worth Rs31.58 lakh.
To avoid scrutiny, Shah arranged delivery through a porter service, providing multiple addresses across Mumbai and Pune. However, before the jewellery could reach its destination, he intercepted and collected the consignments himself.
When the jewellery failed to reach Chandukaka Saraf, the defrauded firms alerted authorities. The MIDC police registered a case under Section 319 of the Bharatiya Nyaya Sanhita (BNS), 2023, for cheating and fraud.
Senior Police Inspector Ravindra Vani said investigators traced the mobile numbers used to place the orders and coordinate deliveries, leading to Shah’s arrest. Police are now probing whether more firms were cheated using similar tactics.
