The Gujarat High Court has granted a 30-day grace period to Hari Raval, an accused in a ₹4.80-crore international diamond fraud, to complete his bail deposit. Raval cited the total collapse of his business during incarceration as the reason for the delay.
- Accused Hari Raval granted a final 30-day extension for ₹5 lakh bail deposit.
- The case involves a ₹4.80-crore international diamond scam using fake profiles.
- The accused claimed his diamond business reached a 'complete standstill' due to imprisonment.
The Gujarat High Court has granted a one-month extension to a Surat-based man accused in a massive ₹4.80-crore international diamond fraud case. The accused, Harekrushna alias Hari Kamleshbhai Raval, pleaded for more time to fulfill his bail conditions, stating that his prolonged incarceration had brought his diamond business to a "complete standstill," leaving him unable to raise the required funds.
Background of the Fraud Case
Raval was arrested on March 25 following an FIR registered by Sanjaybhai Jadavbhai Goti, proprietor of Nilkanth Solitaire. The investigation revealed a sophisticated scheme where the accused used fake online profiles on RapNet (now Rapaport Trade) to mimic legitimate US-based buyers. By using WhatsApp and virtual phone numbers, the syndicate induced local traders to ship high-value diamonds to Dubai and Bangkok without any payment being rendered.
Why This Matters
BozokMedia analysis shows that this case highlights the growing vulnerability of traditional industries to sophisticated cyber-enabled financial crimes. The use of virtual numbers and trusted trading platforms to create a veneer of legitimacy demonstrates how quickly international trade can be disrupted by digital identity theft.
The evolution of diamond fraud from physical theft to sophisticated digital impersonation marks a dangerous shift in global trade security.
In July, the High Court had granted Raval regular bail on the condition that he deposit ₹10 lakh. While his brother provided an undertaking, Raval was only able to arrange ₹5 lakh by the deadline. Justice Hasmukh D Suthar, noting the "peculiar facts" of the case, granted a final one-month extension to deposit the remaining ₹5 lakh, warning that no further extensions would be entertained.
Modus Operandi Comparison
| Element | Details of the Scam |
|---|---|
| Estimated Loss | ₹4.80 Crore |
| Primary Tool | Fake RapNet Profiles & Virtual Numbers |
| Destination of Goods | Dubai and Bangkok |
| Accused Status | Granted bail with conditional deposit |
Frequently Asked Questions
1. What was the specific reason for the bail delay?
The accused argued that his diamond business collapsed while he was in jail, making it impossible to gather the full ₹10 lakh bail amount on time.
2. What is the court's final stance on this extension?
The court has explicitly stated that this is the final extension and no further time will be granted to the applicant.
