CHENNAI: Five persons, including a jeweller from NSC Bose Road, Maki Pal Jain, have lodged a formal complaint with the Elephant Gate police, accusing three brothers of fraudulently withholding 12 kg gold jewellery worth Rs 8 crore.

The complaint is against three brothers identified as Mukesh, Monish, and Sunil—who also operate a jewellery store on NSC Bose Road—who allegedly deceived the complainants after a failed Mumbai exhibition deal.

According to the complaint, the brothers approached the group on January 4, proposing to showcase their jewellery at an exhibition in Mumbai.

They assured the jewellers that proceeds from sales would be transferred promptly, and unsold items would be returned within a month.

Trusting their longtime acquaintances, the five jewellers handed over 12 kg of gold ornaments valued at Rs 8 crore.

However, over a month after the exhibition concluded, the brothers have not returned the unsold jewellery or remit payment for sold items.

When pressed, they allegedly resorted to threats and intimidation. The Elephant Gate police have registered a case under relevant sections.

"We are examining all details, including the agreement between the parties and transaction records. Further action will follow based on the findings, " a police official confirmed.