In a major blow to the accused in the high-profile Narayan Ashish Jewelers case, Vadodara’s Additional Sessions Judge has turned down the fourth regular bail plea of Harish Choksi and his son Dhananjay Harish Choksi. The ruling by Judge P.M. Rawal highlights the severity of the charges, extending the pair’s time in custody and ramping up pressure in this notorious family fraud dispute.
The scandal centers on a well-known jewelry store on R.C. Dutt Main Road in Vadodara. After dodging arrest for six years, the father and son were nabbed by Gotri Police on September 20, 2025. This kicked off a string of failed bail attempts: first rejected by the Magistrate’s court, then by the Sessions Court, and later withdrawn from the High Court.
To avoid capture, other accused family members Mitesh Harish Choksi and Deepa Dhananjay Choksi sought anticipatory bail, but their pleas were dismissed by the High Court in December. The duo has been on the run since September 2025, evading authorities.
In the latest hearing, arguments from Public Prosecutor Anil Desai and complainant advocate Hitesh Gupta swayed the court, which cited the crime’s seriousness and risks like evidence tampering. This has deepened the troubles for the Choksis, prolonging their jail stay.
Unraveling the Narayan Ashish Jewelers Fraud Case: A Deep Dive into the Allegations
The Narayan Ashish Jewelers fraud case, centered in Vadodara, Gujarat, stems from a bitter family dispute within the prominent Choksi family, known for their jewelry businesses. The allegations revolve around the misuse of a power of attorney (PoA) to fraudulently transfer ownership of a valuable commercial property, leading to charges of cheating, forgery, and criminal breach of trust. This case, which originated in 2019, saw renewed developments in 2025 with arrests and multiple bail rejections, highlighting issues of familial betrayal and property fraud in India’s affluent business circles.
Background of the Choksi Family and the Property
The Choksi brothers—Ramakant, Narendra, Ashwin, and Harish—hail from a family with deep roots in the jewelry trade. In 1991, they jointly purchased a prime property on R.C. Dutt Road in Vadodara’s upscale Alkapuri area to establish a jewelry showroom. The ground floor was registered in the names of the four brothers, while the first floor was in the names of their wives. This setup formed the foundation of their collaborative venture, initially operating as R. Narayan Jewellers.
By 1995, as the business grew, the brothers decided to pursue individual paths. Ramakant launched R. Narayan Jewellers, Narendra and Ashwin started Narayan Jewellers, and Harish established Nilkanthvarni Jewellers. To facilitate renovations on the joint property, Ramakant, Narendra, and Ashwin granted Harish a limited PoA. This document explicitly allowed only refurbishment and maintenance activities, with no authorization for selling, transferring, or altering ownership rights. The property remained jointly owned, symbolizing the family’s shared legacy.
The Core Allegations of Fraud
The fraud came to light in December 2018 when Ramakant’s wife, Ila, received a notice from the Vadodara city survey department informing her that her and Ramakant’s names had been removed from the property records. Subsequent inquiries revealed that the names of Narendra and Ashwin had also been erased. Documents uncovered in January 2019 showed that Harish had allegedly misused the 1995 PoA to execute a sale deed in March 2018, transferring the entire property to his own family members: sons Dhananjay Harish Choksi and Mitesh Harish Choksi, and daughter-in-law Deepa Dhananjay Choksi. The sale was recorded at a value of Rs 1.70 crore (approximately $200,000 at current rates), far below the property’s estimated market worth in a high-value commercial zone.
Ramakant accused Harish of forging documents and breaching trust by exceeding the PoA’s scope, effectively cheating the other brothers out of their rightful shares. The transaction was portrayed as an internal family deal to consolidate control, but it violated the joint ownership agreement. This led to a formal complaint filed by Ramakant at Gotri Police Station in February 2019, resulting in an FIR under sections of the Indian Penal Code for cheating (Section 420), forgery (Section 465), and criminal conspiracy (Section 120B). The Gujarat High Court had to intervene to ensure the FIR was registered after initial police hesitation, underscoring the case’s sensitivity.
Legal Proceedings and Bail Battles
The accused evaded arrest for six years, reportedly going underground or challenging proceedings through legal means. In early 2019, anticipatory bail pleas by Mitesh and Deepa were rejected by the Vadodara Sessions Court in April, citing sufficient prima facie evidence and the need for custodial interrogation to probe the fraud’s depth. The court emphasized the risk of evidence tampering if released. Similarly, Dhananjay’s anticipatory bail was denied in May 2019, with the judge noting that he had directly benefited from the questionable transaction.
The case resurfaced dramatically in September 2025 when Gotri Police arrested Harish and Dhananjay after years of pursuit. Their initial bail applications were dismissed by the Magistrate’s Court, followed by rejections in the Sessions Court. Appeals to the Gujarat High Court in October and December 2025 were withdrawn by the accused, possibly due to an unfavorable outlook or strategic shifts after a chargesheet was filed. Mitesh and Deepa’s anticipatory bail pleas were outright quashed by the High Court in December 2025, leaving them absconding since September.
The most recent setback occurred in late 2025 when Additional Sessions Judge P.M. Rawal rejected Harish and Dhananjay’s fourth regular bail application. The court, after hearing arguments from Public Prosecutor Anil Desai and complainant advocate Hitesh Gupta, highlighted the case’s gravity, including potential witness intimidation and the substantial financial stakes. This decision extended their judicial custody, amplifying their legal woes.
Implications and Broader Context
At its heart, this is not a typical jewelry scam involving customers but an intra-family fraud exploiting trust and legal instruments like PoAs, common in India’s property disputes. The property’s location on R.C. Dutt Main Road—home to Narayan Ashish Jewelers (a variant or associated name in local reports)—adds to its notoriety, as it was a symbol of the family’s success. Victims, primarily the other Choksi brothers, claim significant financial loss and emotional distress from the betrayal.
The case underscores vulnerabilities in family-run businesses, where ambiguous legal documents can lead to protracted litigation. As of January 2026, investigations continue, with Mitesh and Deepa still at large. Legal experts anticipate further appeals, but the repeated bail denials signal a judiciary intent on thorough scrutiny. For the Choksi family, once united in prosperity, this saga represents a fractured legacy amid Vadodara’s glittering jewelry scene.