A dozen leading rough diamond traders in Mahidharpura market have lost nearly Rs 10 crore after a diamond merchant who had purchased rough diamonds on 60 to 120 days credit few months ago disappeared as was unable to make any payment, according to TOI.
According to an office-bearer of Surat Diamond Association (SDA), "The rough diamond trader was operating in the market from the past many years. The affected diamond traders had come to our office; and we trying to find his whereabouts.” A diamond trader, who has lost Rs 2 crore, said, "It is a common practice to lend rough diamonds on credit. He was particular in his payment for many years. I am shocked to learn that he has disappeared from the market. We cannot even lodge a police complaint due to lack of evidence."
Aruna Gaitonde, Rough&Polished correspondent in India
