UK Businessman Nishit Patel Re-Arrested in Mumbai in Rs 92 Lakh Watch Fraud Case

Mumbai police have re-arrested UK-based businessman Nishit Patel outside Arthur Road Jail in connection with a fresh fraud case, moments after he was released on conditional bail granted by a sessions court.

Patel had secured conditional bail on Wednesday in an earlier case involving the alleged duping of actor Javed Jaffrey and his wife of Rs 17 crore. However, police took him back into custody as soon as he stepped out of the Arthur Road prison premises.

In the latest case, Patel is accused of cheating a luxury watch dealer out of more than Rs 92 lakh by taking delivery of three high-end timepieces without completing the promised payments.

According to the complaint, Patel visited the luxury watch store on February 13, where he selected a Hublot watch valued at Rs 18.65 lakh and a Franck Muller watch priced at Rs 19.38 lakh.

The complainant stated that Patel returned to the shop the following day, on February 14, and purchased a second Franck Muller watch valued at Rs 54.49 lakh. He allegedly assured the merchant that the total amount would be transferred immediately via Real Time Gross Settlement (RTGS). However, the promised RTGS transfer was never received by the retailer.

Separately, in the Rs 17 crore fraud case involving Javed Jaffrey, the Bombay High Court has granted interim protection from arrest to Assistant Commissioner Mahesh Patil, who is named as an accused in the matter. Patil has approached the high court seeking anticipatory bail and has stated in his plea that he is willing to turn approver in the investigation.