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Three Booked for Allegedly Misappropriating 1.5 kg Gold Entrusted for Jewellery Manufacturing in Coimbatore

SimpliCity News Team · 27 Jun 2026

Coimbatore: Vadavalli Police have registered a case against three persons, including a city-based jeweller, for allegedly misappropriating 1.5 kg of gold entrusted to them for manufacturing jewellery and diverting it for personal business instead of fulfilling the agreed terms.

According to the complaint lodged by Sethuramalingam (63), authorised director of Syria Jewellers Industries Private Limited, three people – J. Vengada Krishnan, proprietor of Sri Krishna Jewellers, along with Ganesh and Ranjith – approached the company in 2025 with a proposal to manufacture gold ornaments and gained its confidence.

Based on the agreement, the company entrusted the trio with 1.5 kg of 99.98 per cent pure gold for jewellery manufacturing. The accused allegedly agreed to pay a return of 2.5 per cent for the first month and 3 per cent for the subsequent months, credit the returns to the company’s designated bank account every 15 days, and return the gold within seven days whenever required.

However, the complainant alleged that instead of manufacturing and supplying the ornaments as agreed, the trio diverted the entrusted gold for their personal business investments and failed to return either the gold or the promised returns.

Based on the complaint, the B5 Vadavalli Police registered a case in Crime No. 187/2026 under Sections 316(2) and 318(4) of the Bharatiya Nyaya Sanhita (BNS) against J. Vengada Krishnan, Ganesh and Ranjith.

Police said no arrests have been made so far and further investigation is under way.

Coimbatore Vadavalli Police Gold Misappropriation Jewellery Industry Fraud Syria Jewellers Industries Sri Krishna Jewellers Bharatiya Nyaya Sanhita Crime Tamil Nadu

Three Booked for Allegedly Misappropriating 1.5 kg Gold Entrusted for Jewellery Manufacturing in Coimbatore

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