Employee defrauds RBZ Jewellers of nearly ₹2 crore; FIR registered

“We wish to inform you that RBZ Jewellers Limited has experienced an incident of fraud,...The Company has immediately undertaken measures to assess the situation,” RBZ Jewellers said.

According to the jeweller, the cashier Om Kumar Manoj Kumar Shukla swindled ₹1,98,11,486 by falsifying company records over a period of time.

RBZ Jewellers on March 3 registered an FIR against the ex-employee at the Satellite Police Station in Ahmedabad, Gujarat.

“The company would render necessary assistance to the police in the investigation of the matter and further material details will be intimated to the exchange promptly,” it said.

Shares of RBZ Jewellers closed in the green at ₹155.20, up 4.79% on the National Stock Exchange (NSE) on March 4. However, the company informed the bourses of the fraud after market hours.

The scrip slipped 10.6% over the last eight days and 16.45% since February beginning. It lost 20.2% on a year-to-date basis.

RBZ Jewellers has a total market capitalisation of ₹620.80 crore as of March 4, 2025, on the NSE.

About the company

Incorporated in 2008, RBZ Jewellers Ltd engaged in engaged in manufacturing, trading, and job work of jewellery and other accessories. . Its wholesale business includes national, regional, and local family jewelers spread over approximately 20 states and 72 cities within India.