Two held for pledging gold-plated jewellery at Muthoot Fincorp branch in Nagpur
Police in Nagpur booked two men accused of pledging low-purity gold jewellery at a Muthoot Fincorp branch to take loans worth over Rs 4 lakh
Nagpur: A case of alleged fraud involving Muthoot Fincorp has come to light in the Bajajnagar police station area of Nagpur. The accused allegedly pledged low-purity gold jewellery at the Khamla branch to take a loan of around Rs 4 lakh 13 thousand. Police have registered a case against two accused, identified as Nayan Narsing Janjarla and Vijay Dattuji Kurve.
According to police sources, Nayan pledged a 9.9 gram gold ring to take a loan of Rs 63,000.
Vijay pledged six gold bangles weighing 71 grams to take a loan of Rs 3 lakh 50 thousand.
Both accused allegedly did not pay any instalment of the loan. When the pledged jewellery was examined before being put up for auction, its gold purity was found to be low.
The investigation found that the jewellery had a gold coating on the surface, while another metal had been used inside.
Police said the two loans, taken together, add up to a total of Rs 4,13,502. Based on the complaint, Bajajnagar police have registered a case under relevant sections related to fraud and begun an investigation.
