Rs 26 crore unearthed from Nikkamal Jewellers

Manav Mander

Tribune News Service

Ludhiana, November 11

The Income Tax Department unearthed black money worth Rs 26 crore from Nikkamal Jewellers.

The IT Department conducted the survey under the supervision of Joint Director (Investigations) Rohit Mehra. The survey which started last evening at Nikkamal Jewellers continued till four in the evening today.

According to sources, even the owner accepted having black money. Mehra said he cannot divulge the details of the outcome of the survey right now. The survey was conducted at three shops of Nikkamal located in the city and one in Jalandhar.

After the news spread, panic-gripped city jewellers preferred closing their shops today. Jewellery shops located at Cemetery Road, College Road and Mall Road were also shut.

After rumors were rife that raids are being conducted at shops in Akalgarh Market and AC market, most of the shopkeepers there shut their shops. Although no department conducted a raid, traders were panic-stricken after surveys at Nikka Mal Jewellers. Shops near Lakkar Bridge, Bajwa Nagar, Akalgarh Market, Bhadaur House were also shut in the afternoon.

One of the jewellers at Fountain Chowk said most of the jewellery shops were closed because there were no customers in the market.

“I am not accepting any old currency notes and selling only through debit and credit cards, but still some people keep enquiring if old currency can be changed in lieu of gold,” he said.

A city-based jeweller from Sarafan Bazar said he preferred closing his shop amid all this chaos. “What if a customer comes with old currency? I don’t want to get into any trouble so it is better to close the shop,” he said.

Shutters down, no jeweller in shops after raid rumours

After rumours were rife that raids are being conducted at shops in Akalgarh Market and AC market, most of the shopkeepers there shut their shops. Panic-gripped city jewellers preferred closing their shops. Jewellery shops at Cemetery Road, College Road and Mall Road were also shut. Although no department conducted a raid, traders were panic-stricken after surveys at Nikkamal Jewellers. Shops near Lakkar Bridge, Bajwa Nagar, Akalgarh Market, Bhadaur House were also shut in the afternoon. 

Customers return dejected

Customers, too, had to return empty-handed as shops remained closed. “My best friend got married today and I had ordered a beautiful looking glass in silver for her. The payment was done a week ago and I was here to pick my order. But now, the shop is closed and nobody is picking the call. Before closing the shop, they should have at least ensured that pre-booked orders are delivered first. I do not have enough cash with me and I have no clue what I will gift her now,” she said. Another visitor returned disappointed saying: “I fail to understand what is going on. Why are these shopkeepers shutting their shops now? Seems everything is in a mess.”