Archive · 12 Oct 2026
Kakinada Gold Appraiser Arrested in Jewellery Substitution Case
Police in Kakinada arrested a bank gold appraiser named Narava Suribabu.
Customers had left jewellery with the bank to get gold loans.
Police say the real jewellery in 44 loan accounts was replaced with fake ornaments.
The jewellery involved weighed 1,056.90 grams.
Police recovered 1,020.53 grams, which they valued at Rs 1.45 crore.
About 36 grams had not yet been recovered, according to the police.
The case involves a Bank of Baroda branch at the Government General Hospital premises.
Police said they registered the case in July after noticing problems with how the jewellery was handled.
Police arrested gold appraiser Narava Suribabu over the alleged misappropriation of customers’ pledged jewellery at a Bank of Baroda branch in Kakinada.
Police said ornaments linked to 44 gold loan accounts, weighing 1,056.90 grams, were allegedly replaced with fake jewellery.
The One Town police registered a case in July after irregularities came to light; the year was not specified.
Police recovered 1,020.53 grams of jewellery, valued at Rs 1.45 crore, and said about 36 grams remained missing.
Superintendent of Police Bindu Madhav said Suribabu was arrested during the investigation.
- Who
- Gold appraiser Narava Suribabu was arrested; Superintendent of Police Bindu Madhav announced details.
- What
- Police allege that jewellery pledged for gold loans was replaced with fake ornaments in 44 accounts.
- When
- The One Town police registered a case in July; the year was not stated.
- Where
- A Bank of Baroda branch on the Government General Hospital premises in Kakinada.
- Why
- Police said the case followed irregularities in the handling of pledged jewellery; no motive was stated.
- Arrested
- Narava Suribabu, a gold appraiser
- Accounts involved
- 44 gold loan accounts
- Gold allegedly misappropriated
- 1,056.90 grams
- Jewellery recovered
- 1,020.53 grams
- Reported value of recovered jewellery
- Rs 1.45 crore
- Still unrecovered
- About 36 grams
- Bank branch
- Bank of Baroda branch on the Government General Hospital premises, Kakinada
- Police spokesperson
- Superintendent of Police Bindu Madhav
