Days after receiving bail in a Mumbai fraud case, Dishil Vijaybhai Kikani, a Gujarat-based diamond broker, is now facing fresh legal action. The Katargam Police in Surat have registered a new FIR (No. 11210021241) against Kikani for allegedly defrauding a local diamond business of ₹69.84 lakh in polished diamonds. This new case follows an earlier FIR (No. 589/2024) lodged by Mumbai Police, in which Kikani was accused of a ₹31.28 lakh diamond fraud.
Background: The Mumbai Case
On September 29, 2024, Kikani was arrested by Mumbai Police after AN James, a diamond trading company based in the Bharat Diamond Bourse (BKC), accused him of cheating. According to the Mumbai FIR, Kikani had taken 97.77 carats of diamonds worth ₹31.28 lakh under the pretense of a sale. However, the payment was never made, and the diamonds were not returned, leading to his arrest. Despite the serious allegations, Kikani was granted bail, which allowed him temporary freedom during the ongoing investigation.
New FIR Filed in Surat for ₹69.84 Lakh Fraud
On October 11, 2024, a fresh complaint was filed against Kikani and his father, Vijaybhai Kikani, at the Katargam Police Station in Surat. The complainant, Dipakbhai Vallabhbhai Savani, representing S. Reeva & Co., alleged that Kikani had fraudulently acquired 348.27 carats of diamonds between September 2021 and August 2023. The total value of the diamonds handed over was ₹69.84 lakh.
The complaint states that Kikani had promised to pay within 20 days but failed to do so. When Savani and his business partner, Ravi Savani, visited Kikani’s home on August 14, 2023, to demand payment, they were allegedly threatened. Kikani is reported to have said, “If you come to recover the money again, I will frame you in a false case.”
Impact on the Diamond Industry
The back-to-back fraud allegations against Kikani have raised concerns in both Mumbai and Surat’s diamond trading communities. The industry, built on trust and informal agreements, has been shaken by these events. Traders are now calling for stricter checks and balances to prevent similar frauds in the future.
Both the Mumbai and Surat diamond communities are closely following these developments, hoping for the recovery of the stolen assets and swift justice. With two active FIRs and more victims potentially coming forward, Kikani’s troubles seem far from over.
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