Mumbadevi Jewellery Firm Manager Accused of Stealing 6.12 Kilograms of Gold
A manager employed at a jewellery firm in South Mumbai has allegedly siphoned off 6.12 kilograms of gold jewellery, valued at nearly ₹6 crore, from the company's manufacturing unit in Dagina Bazaar, Mumbadevi. The Mumbai Police have registered a criminal case against the accused manager, Mitesh Kothari, and have launched an active search to locate him.
The complainant in the case, 47-year-old Vinit Ranawat, owns Sanghavi Dhanrupji Devaji and Company, a gold and silver jewellery business operating out of Dagina Bazaar. The accused, Kothari, had been working as the firm’s trusted manager for the past 15 years. According to police records, Kothari's uncle, Narendra Kothari, was also previously employed by the same company as an accountant.
Because of his long tenure, the firm had entrusted Kothari with the keys to its lockers. The management had also authorised him to independently handle the purchase and sale of gold and jewellery on behalf of the business.
The alleged misappropriation came to light following a recent business trip to Patna, Bihar. During the trip, Kothari reportedly prevented Hasmukh Ranawat, the brother of the complainant, from meeting with local dealers. This unusual behaviour raised suspicions within the family-run business.
Upon returning, the owners ordered a comprehensive audit of the firm’s accounts and inventory. The audit subsequently revealed a major shortage of 6,100 grams of gold, valued between ₹5.8 crore and ₹6 crore.
When the owners confronted Kothari and threatened him with a formal police complaint, the manager allegedly admitted to his actions. According to police officials, Kothari confessed to misappropriating the gold jewellery. He explained that he booked courier consignments in the names of various clients but intercepted and collected the parcels himself. He reportedly told the complainant that he had been executing this scheme since April 2025 and claimed he had lost a large quantity of the gold in various exchange transactions.
Following the confession, Kothari went missing. The police have booked Kothari, who is a resident of Bhayandar, under Section 316 (criminal breach of trust) of the Bharatiya Nyaya Sanhita and are currently searching for him.
