Archive · 6 Sep 2025
Mumbai Court Grants Bail in ₹10 Crore Gold Investment Fraud
A man from Thane, named Sancheti, has been granted bail by a court in Mumbai.
He was accused of being involved in a financial scam related to gold investments.
A businessman, Pranam Mehta, claimed he invested a large amount of gold and money with companies run by the Kanther family, but didn't get it back.
During the investigation, one of the Kanthers said he gave a sum of money to Sancheti, leading the police to ask him to join the investigation.
Sancheti denied any wrongdoing, saying the transactions were done legally.
The court decided to grant him bail because there wasn't enough evidence directly linking him to the fraud, only the statement of another person involved.
A Thane resident, Sancheti, received anticipatory bail.
The case is linked to a ₹10 crore gold investment fraud.
The complaint was filed by Pranam Mehta of PFIVE Bullions Pvt Ltd.
Mehta invested in firms operated by the Kanther family.
The court cited lack of evidence directly connecting Sancheti to the fraud.
- Who
- Sancheti, Ladulal Kanther, Pranam Mehta
- What
- Anticipatory bail granted in a gold investment fraud case
- When
- Between May 2023 and March 2024 (investment period). Bail granted recently.
- Where
- Mumbai sessions court
- Why
- Sancheti feared arrest after being implicated in the fraud and sought legal protection.
- Accused
- 34-year-old Thane resident, Sancheti
- Complaint
- Filed by Pranam Mehta, partner in PFIVE Bullions Pvt Ltd
- Alleged Fraud
- ₹10.51 crore and 36kg gold investment in Kanther's firms
- Kanther's Firms
- Maxis Bullions and Pallav Gold
- Bail Granted
- Anticipatory bail by Mumbai sessions court