Nagpur: A businessman has been booked by Pratapnagar Police for allegedly defrauding a local jeweller of ₹2.34 crore by purchasing gold jewellery on credit and failing to make payments.

According to police sources, complainant Jayant Vasantrao Palkar (Jain) (49), a resident of Sambhaji Nagar Chowk, Trimurti Nagar, owns Shri Saptashrungi Jewellers located behind Nagoba Mandir in Pratapnagar.

The accused, identified as Rahul Kumar Nareshchandra Khabiya alias Jain, resides in Nalawade Layout, near Padole Hospital, and was staying at a rented house. Initially, Khabiya gained Palkar’s trust by purchasing small quantities of gold jewellery with cash.

Between February 1, 2024, and March 4, 2025, Khabiya started purchasing jewellery in bulk from Palkar’s store. He reportedly bought 2 kilograms and 148 grams of gold jewellery, valued at ₹2.34 crore. To settle the dues, Khabiya issued a ₹1.5 crore cheque from AU Small Finance Bank, which was later stopped by him.

When confronted by Palkar, Khabiya provided another cheque, which also bounced. Despite repeated follow-ups, Khabiya continued making excuses and failed to clear the dues.

Based on Palkar’s complaint and subsequent investigation, Pratapnagar Police registered a case against Khabiya under Section 420 of the Indian Penal Code (IPC) for cheating.

The police are actively investigating the matter and further action is underway.