Ahmedabad: A Rajkot-based couple has moved the Gujarat High Court against Indian Bank, alleging that gold jewellery worth Rs 1.15 crore pledged for two loans went missing from the bank’s custody and that they were kept in the dark while interest continued to be charged.

The petition, filed by Sangeeta Shah and Shyam Shah, states that they had taken two MSME jewellery loans in 2023 by pledging 1,004.1 grams of 22-carat gold. When they sought renewal on October 28, 2025, the bank informed them the next day that the jewellery was missing and asked them to seek reimbursement at Rs 10,813 per gram (24-carat).

The bank later said the ornaments had been missing since March 2025 and that a police complaint was filed in July, though no FIR followed. The couple approached the court after the bank allegedly threatened NPA classification, imposed penalties and affected their credit scores.

They have sought directions to the Centre and the RBI to act against the bank and order compensation, or to appoint an independent inquiry. After a preliminary hearing, Justice Aniruddha Mayee issued notice to the Centre, the RBI and Indian Bank, seeking replies by January 27. DeshGujarat