Manager siphons off 6.1kg gold from jewellery firm

According to the police, complainant Vinit Ranawat, 47, owns Sanghavi Dhanrupji Devaji and Company, a gold and silver jewellery business based in Dagina Bazaar. The accused, Mitesh Kothari, had been working as the firm’s manager for the past 15 years. His uncle, Narendra Kothari, was previously employed by the company as an accountant.

Mumbai: A manager employed by a South Mumbai jewellery firm allegedly siphoned off 6.12kg of gold jewellery worth ₹5.8 crore from the company’s manufacturing unit in Dagina Bazaar, Mumbadevi. The police have registered a case and launched a search for the accused.

Manager siphons off 6.1kg gold from jewellery firm

According to the police, complainant Vinit Ranawat, 47, owns Sanghavi Dhanrupji Devaji and Company, a gold and silver jewellery business based in Dagina Bazaar. The accused, Mitesh Kothari, had been working as the firm’s manager for the past 15 years. His uncle, Narendra Kothari, was previously employed by the company as an accountant.

Police said the firm had entrusted Mitesh with the keys to its lockers and authorised him to handle the purchase and sale of gold and jewellery.

Suspicion arose during a business trip to Patna, Bihar, when Mitesh allegedly prevented Hasmukh Ranawat, the complainant’s brother, from meeting dealers. A subsequent audit of the firm’s accounts allegedly revealed a shortage of 6,100 grams of gold worth about ₹6 crore.

“When threatened with the possibility of a police complaint, Mitesh admitted to misappropriating the jewellery. He allegedly booked courier consignments in the names of clients but collected the parcels himself. He told the complainant that he had been doing this since April 2025 and also claimed he had lost a large quantity of gold in exchange transactions,” the officer said.

Police have booked Kothari, a resident of Bhayandar, under Section 316(criminal breach of trust) of the Bharatiya Nyaya Sanhita and are searching for him.