Mumbai News: Esplanade Court Grants Bail To Riddham Kakadiya In ₹1.65 Crore Diamond Smuggling Case

Mumbai: The Additional Chief Judicial Magistrate of the, Esplanade court, Mumbai, has granted bail to Riddham Kakadiya, who was arrested for allegedly smuggling diamonds worth Rs1.65 crore. The court ruled that the accused as there is a discrepencies in the valuation of the diamond and fixing of the valuation of the diamonds would take time, hence the court granted him bail on personal bond of Rs one lakh.

Kakadiya was arrested on March 11, 2025, under the Customs Act, 1962, on allegations of concealing and smuggling diamonds. However, the defence argued that the valuation of the seized diamonds was inflated to make the offense non-bailable. The accused claimed that the diamonds were lab-grown, significantly lower in value than natural ones, and presented tax invoices showing a valuation of Rs 65.43 lakh, which would make the offense bailable.

The prosecution, had opposed the bail on the grounds that the accused had admitted to possessing and handling the smuggled goods and lacked proper legal documentation.

The court noted that the dispute over valuation should be determined during the trial and that further custody was unnecessary, as the accused had already provided statements and the goods were seized. The bail conditions include surrendering his passport for six months, cooperating with the investigation, and not influencing witnesses.