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Indian Express
4 days ago
- Indian Express
Wedding bells and a grisly murder: In a posh West Delhi colony, how secrets unravelled
Winter had arrived, but the real chill was still on its way. The annual wedding season had begun, and the city was abuzz with music and laughter. That morning was particularly cold and dry, with a misty haze hanging over the streets. Abhishek (28) and Amita (28) were out shopping. Their wedding was fast approaching; they would exchange their vows exactly a week later on November 27. Accompanying the couple was Amita's family — her mother, Vandana Bhardwaj, and her sister, Radhika. Their first stop was Khajna Jewellers in Rajouri Garden — the market was West Delhi's answer to South Delhi's shopping hubs like Sarojini Nagar and South Extension. The family watched as Amita excitedly picked up shimmery gold bangles and starry diamond-studded chokers. Amita had been seeing Abhishek for three years now. She had told her family way back in 2013 that Abhishek was the man of her dreams, her life partner. Her family loved Abhishek — he embodied everything they craved for in a son-in-law. Tall and lanky, he had taken over the responsibilities of the Bhardwaj family after Amita's father, Prithviraj, had passed away a year earlier. The Bhardwaj family, meanwhile, lived in a swanky three-bedroom apartment in Rajouri Garden Extension. Abhishek, too, seemed well off. He had told the family, the police said, about his father's contracting business in Bihar. He had bragged about a 'penthouse' his father owns in Delhi and given on rent. He also spoke about a departmental store that he ostensibly owned in Patna. Abhishek would, however, need money for some of his 'ventures' every now and then — especially when his father 'disagreed' with his business plans. According to a police officer, Abhishek had asked for Rs 15 lakh from Amita for a business he claimed he was trying to start in Delhi. In September 2015, he had also taken a loan of Rs 5 lakh from Amita's mother to buy an i20 car. At the jewellery store, it was Abhishek's turn to pay for the wedding finery. After all, he was the groom and was expected to buy his future wife's first set of jewellery for the wedding. Once Amita selected what she wanted, a police officer said, the bill had already crossed Rs 10 lakh. 'At 5.30 pm', the police officer said, 'Abhishek, Amita, Radhika, and Vandana gathered at Tite Da Dhaba for snacks. Amita's brother Deepanshu, 17, also joined them. However, he left soon'. By 6.15 pm, the family arrived at another showroom, Kalyan Jewellers in Karol Bagh. 'Abhishek told Amita he had forgotten his card at home and would quickly fetch it. He left the store immediately,' the police officer said. That evening, Jatin (35), a distant cousin of Amita, was to visit the family. He knew the women were out shopping and Deepanshu was alone, waiting for him at the family residence. But when Jatin reached the Bhardwaj residence at 8.30 pm, he found it locked. 'Jatin called Deepanshu, who didn't answer. He dialed Vandana, who also tried her son's number. There was no response,' a police officer said. Vandana would later tell the police that she then called her soon-to-be son-in-law. 'He was yet to return with his credit card. After the call, he went to the Bhardwaj home, where Jatin was waiting. Soon, the women arrived, the police said. At 9.15 pm, they made a PCR call. When the police team arrived, they had to force open several locked doors before gaining access to the apartment. The Bhardwaj family lived on the second floor of an upscale four-storey building. The entrance to the stairway leading to their floor was locked, prompting officers to break it open. They then entered the gallery, forcing open the interlock on the main door of the flat located at the end of the corridor. Murder most foul A police officer, who was part of the probe, recalled that as soon as the door was opened, they smelt LPG — the flat reeked so strongly of it that even switching on a TV could have burnt the officers to ashes. 'We first looked for the kitchen and turned off the gas. We assumed that maybe the boy was in one of the rooms, having fallen unconscious due to the gas,' the officer said. Deepanshu was indeed found in his own room — he was dead, his head smashed in on the left side, police said. The crime scene, police said, was confusing. 'The curtains and bedsheet were half burnt. It seemed as if the killer planned to burn down the flat along with an unconscious Deepanshu, but it didn't work out,' the officer said. Police found his laptop still switched on right next to his body on the bed. A nail cutter was placed on a side table, with freshly clipped nail pieces stuck in it. A forensic examination of the nail cutter would later conclude that Deepanshu had cut his nails right before his death. 'It was clear that Deepanshu wasn't aware of the danger till he was attacked,' the police officer said. 'There were no signs of resistance. Everything inside the house was untouched. The doors were locked from the outside, which meant the murderer had access to the house keys.' Investigators concluded that the murderer wasn't a stranger. Once police made their initial inquiries, they found Abhishek's absence suspicious. 'We asked the family about Abhishek. We wanted to know where he went once he left them in Karol Bagh. They didn't like it. They were not even ready to consider the possibility of questioning Abhishek. For them, he was the best thing that had happened to their family since the death of Amita's father,'' the police officer said. 'He was like their son, after all'. Of course, the wedding was cancelled. On November 21, Deepanshu's final rites were done after a detailed post-mortem was conducted. Another police officer recalled that he saw Abhishek reprimanding Amita to stop grieving so much. 'Abhishek was very aggressive. He was telling Amita to accept her brother's death. 'The past is past', he told her, and that she needs to move on,'' the officer said. 'It seemed like he was almost berating her for grieving this big loss. This added to our suspicions.' On November 21, soon after sundown, investigators summoned Abhishek for questioning at the Rajouri Garden police station. And after over six hours, he broke down. 'Initially, he denied his involvement in the crime. He told the police that he was getting married and had no reason to harm Amita's family,' a police officer said. The police, however, had looked into his background before questioning him. He was no prince charming, and certainly not a rich man, police said. 'Abhishek lived on rent in Kirti Nagar. His parents lived on Kanti Factory Road in Patna, and his father was an employee in a private firm,' a police official said. He wasn't even an intelligent criminal, police said. He assumed he could get away with murder. 'It's possible that he didn't escape because he didn't want to. He just killed the only male heir of the family. And it helped his case that the women of the house looked up to him,' said the police officer. And once the police pieced together what Abhishek admitted to, they found a story of a man driven by greed from the very beginning. The story unravels It was in 2010 that Abhishek arrived in Delhi from Patna, looking for a job. He soon found an opening at a call centre in West Delhi and was living in a rented accommodation in Rajouri Garden. He soon opened a small travel company, The Travel Express. Amita, Abhishek told the police, joined his company in 2011 as a ticketing agent. He initially showed little interest in her, but that changed once he learned that Amita's father was a property dealer. 'He heard from employees that Amita was working because she wanted to, but was financially well off. He then started talking to her and bragging about his father's contracting business,' a police officer said. During questioning, Abhishek told police that Amita was 'inspired' by his success and fell in love with him. They entered into a relationship and Abhishek started visiting her frequently. His plan, police said, was never to marry her. 'He looked at her as a means to make easy money. He would take expensive things from her and sell them off. He bought the i20 car and sold it. He would come up with elaborate explanations and Amita would believe him,' a police officer said. Abhishek made himself integral to Amita's life, especially when her father became critically ill in 2013. He started visiting the family home regularly and helped them. He would accompany Amita's father to the hospital, fetching his medicines, and accompanying her mother and sister on errands. In 2014, police said, the family conveyed to Abhishek that they wanted him to marry Amita. 'Abhishek was now in a bind. He didn't want to marry her. His aim was only to usurp her money for some more time and then vanish. He even started to find a way to break off the relationship,' a police officer said. But as his greed was insatiable, he couldn't leave. In late 2014, her father passed away — and this was Abhishek's way out. The marriage was postponed, giving him more time to plan his exit. 'Abhishek thought he could get some more money from Amita before he left. But his lifestyle didn't allow him to leave,' the officer said. Come September 2015, and Abhishek was still lounging in the Bhardwaj's apartment, he would tell the police. He never invited Amita to his place, always having an excuse at hand. 'He told her that his friends were often drinking in his flat and she would be uncomfortable there,' a police officer said. By this time, Amita was eager to get married and Abhishek had no option but to oblige. The date was set. Abhishek realised he needed to do something. 'He remembered what delayed the wedding last time. He thought that a death in the family would be the only way to postpone it again,' the officer said. Police said his phone's internet history showed he looked up 'how to kill someone and not get caught'. His research led him to believe that burning someone's body after killing them, along with the scene of the crime, would be the perfect plan, the officer said. 'He knew that the crime had to take place at Bhardwaj family house, as he could come and go as he pleased. He chose Deepanshu as his target on the day of shopping, as he knew that it was a rare occasion that no one would be home — barring the boy,' a police officer would later say. In the evening of November 20, Abhishek left Karol Bagh with the keys to all the locks — which the family bestowed on him with their trust. He entered the house at 7 pm, with Deepanshu welcoming him in and then going back to his room, a police officer said. 'Abhishek then moved around the house and found a bat. He then entered Deepanshu's room. The boy had his earphones on and was playing video games on his laptop. Standing behind him, Abhishek smashed Deepanshu's head,' the officer said. He then moved to part two of his murderous playbook. He set fire to the bedsheet and the curtains, and then quickly ran to the kitchen — across the hall — to turn on the gas, police said. Abhishek expected the gas would eventually spread to the bedroom, fanning the blaze and engulfing the entire house. His plan, though, went awry. 'The hall was so big that the gas couldn't spread in time to spark a massive fire. By the time it did spread, the fire died down,' a police officer said. During questioning, Abhishek told the police that he threw the murder weapon on a vacant plot opposite the building. The weapon was recovered, and so were Abhishek's prints, tying him neatly to the murder. The Bhardwaj family was shell-shocked by the accusations. They continued to visit Abhishek during the court proceedings for a while. They still thought he was being framed, a police officer said. After Abhishek was convicted in 2016, reality set in. Police said Amita married someone else. Abhishek remains behind bars in Mandoli jail.
Hans India
20-07-2025
- Entertainment
- Hans India
Mohanlal dazzles in gender-fluid avatar for jewellery brand
In a bold and unconventional move, Vinsmera Jewels has turned heads across the nation by choosing Malayalam superstar Mohanlal as the face of their latest campaign — not as the usual masculine brand ambassador, but as a hero embracing a gender-fluid persona. The celebrated actor appears in the new ad flaunting the brand's jewellery with elegance, challenging the long-held tradition of featuring only women in jewellery advertisements. Directed by acclaimed ad filmmaker Prakash Varma, the advertisement subverts norms and expectations with a narrative that's both playful and progressive. In the ad, Mohanlal plays a fictional version of himself who slyly steals jewellery from a film set, only to lock himself inside his vanity van and adorn himself with the sparkling gold and diamond pieces. It's a refreshing departure from the hyper-masculine portrayals that dominate media, and a powerful statement on fluid expression and breaking gender norms. This daring campaign is drawing comparisons with the strategies of other leading jewellery brands like Kalyan Jewellers, Malabar Gold, and Jos Alukkas — all of whom also feature male brand ambassadors. However, none have dared to explore such a bold, inclusive, and gender-defying concept in their promotions. Vinsmera's campaign, led by Mohanlal, is setting a new precedent. What makes this effort all the more compelling is the fact that Mohanlal, one of the most respected and versatile actors in Indian cinema, chose to lend his image to such a path-breaking concept. Known widely as the 'Complete Actor,' Mohanlal once again proves why he deserves that title — his willingness to experiment and take creative risks is winning hearts across demographics. The ad's director Prakash Varma, who recently made his acting debut as the antagonist in the Mohanlal-starrer Thudarum, brings a nuanced vision to the commercial. His unique storytelling approach helped elevate the concept beyond a simple marketing gimmick into a thoughtful commentary on identity and self-expression. Unsurprisingly, the ad has gone viral on social media, with netizens and fans alike showering praise on both Mohanlal and Vinsmera Jewels for their courage and creativity. Hashtags like #Mohanlal, #VinsmeraJewels, and #BreakingNorms are trending, with users applauding the actor's bold choice and hailing the campaign as a much-needed breath of fresh air in brand storytelling. In a time when many leading men in Indian cinema cling to hypermasculine and action-heavy roles, Mohanlal's move is being celebrated as not only brave but revolutionary. He has once again proved that acting is not just about fitting into molds — it's about breaking them. With this ad, Vinsmera Jewels hasn't just marketed their product — they've made a statement. And thanks to Mohanlal, that statement is echoing across the country with resounding applause.
Mint
18-07-2025
- Business
- Mint
Growth of small-town gold buyers spurs sales hopes of jewellery retailers; PN Gadgil, Senco target $1 billion revenue
MUMBAI/BENGALURU : Consumers in India's smaller towns are increasingly buying jewellery from organised retailers, drawn by brand trust, better designs, and transparent pricing. This has brightened prospects for PN Gadgil Jewellers Ltd and Senco Gold Ltd, which are targeting 20% revenue growth to $1 billion. The shift in shopping preferences has also prompted many unorganised jewellers to become franchisees of organised chains that offer a readymade platform for growth. 'Franchisees see value in aligning with an established brand as it offers instant credibility and access to a scalable business model," said Bhavya Gandhi, an equity research analyst at Dalal and Broacha. 'With rising per capita incomes in tier-2 and tier-3 cities, consumers are no longer just buying gold – they're choosing branded jewellery for its perceived quality, reliability and aspirational appeal." The positive outlook for jewellery retailers is driven by gold exchange schemes, rising gold prices, store expansion and new product lines. PN Gadgil Jewellers, the third-largest jewellery retailer, posted revenue of ₹7,630.5 crore in FY25. The company is targeting younger buyers through its new lightweight jewellery line. Saurabh Gadgil, chairman of PN Gadgil, said in the company's June quarter update that jewellery is increasingly becoming a form of everyday self-expression rather than just a traditional purchase. Senco Gold, the fourth-largest jewellery retailer, ended FY25 with ₹6,263 crore in revenue and expects to cross the $1 billion ( ₹8,597 crore) mark in FY27. 'Senco expects to grow its topline by 19-20% every year," said Sanjay Banka, the company's chief financial officer. In comparison, Titan Ltd, India's largest gold jeweller, posted ₹47,501 crore in jewellery revenue and is targeting 15-20% annual growth. Kalyan Jewellers, the second-largest company with ₹25,045 crore in jewellery revenue, hasn't provided growth guidance this year. The company reported a 31% jump in revenue in the June quarter. Titan and Kalyan Jewellers did not respond to queries emailed on Tuesday afternoon. Market outlook Jewellery company stocks ended higher even as the benchmark BSE Sensex fell 0.45% to 82,259.24 at the close on Thursday. Senco Gold shares climbed 5% to ₹372.75, while PN Gadgil shares advanced 3.8% to ₹623.70. Kalyan Jewellers added 1.8% to ₹600.20 and Titan Company shares rose 0.45%. Investors are looking forward to the Q1 results of listed jewellery companies including PC Jeweller, Senco Gold, and Kalyan Jewellers. Traditionally, this quarter benefits from festive buying during Akshaya Tritiya and the wedding season. The optimistic outlook for gold jewellers contrasts with the soft prospects for other sectors, including the auto and fast-moving consumer goods industries. 'Our outlook for jewellery, not just for the year but for the next few years, continues to be bullish," Ajoy Chawla, CEO of Titan's jewellery division, said in the company's June quarter update. Chawla attributed the upbeat outlook to steady wedding demand, a diversified product portfolio catering to traditional and modern buyers, and the company's continued expansion through new stores and digital channels like CaratLane. 'There are a couple of reasons why gold jewellers are quite bullish," said Gandhi of Dalal and Broacha, adding that store expansion alone contributes about 10% to growth and existing stores add another 5-7%. PN Gadgil and Senco have distinct approaches to the business. Last year, PN Gadgil received about 90% of its business from company-owned stores and the remaining from its 12 franchise-owned stores. At Senco, franchise-owned stores, which invest in both setting up the outlets and managing inventory but sell Senco's jewellery, accounted for one-third of revenue. Senco's expansion strategy hinges on a hybrid store model, with franchises in smaller towns and company-owned outlets in metros. Senco has 72 franchise showrooms of the 175 stores it operates and it may add more than than 10 franchisee outlets in the future. 'Franchises are mostly present in tier-3 and tier-4 towns, while our company-owned stores are in metros like Kolkata, Mumbai and Gurugram," Banka said. Titan plans to open 40-50 Tanishq stores and scale up its CaratLane and Mia formats. 'Every jeweller has their strategy to enter untapped markets," said Pratik Prajapati, an equity research analyst at Ambit Capital. 'Depending on the business plan and location, the model of the showroom, whether company-owned or franchise-owned, will differ." Exchanging gold The rise in gold prices also plays a crucial role, Gandhi said, as jewellery-making charges are typically linked to the invoice value rather than volume, allowing retailers to maintain or even expand margins. Wedding demand accounts for 30-40% of total sales, followed by daily wear and special occasion purchases. 'Customers usually come in with a fixed budget, not necessarily seeking 22-karat or 18-carat gold. If a product fits that budget, they go for it, which is why studded jewellery is gaining traction," Gandhi said. He also said that most studded pieces include diamonds, which typically offer better margins for jewellers. "Wedding demand also continues to remain robust this year – it typically makes up to 30-40% of the demand in the jewellery market,'' he said. Exchange schemes are growing in popularity as customers seek to take advantage of rising prices and upgrade their old jewellery with modern designs. Senco is encouraging customers to exchange old jewellery to meet its sales target, according to Banka, as gold prices continue to climb due to global uncertainties that are pushing bullion rates higher. Senco Gold said old-gold exchanges now make up 40% of its sales, up from 28% a year ago. 'When gold prices go up, customers do not have extra cash to buy new jewellery. Therefore, many middle-class families bring their old gold to exchange it for new jewellery," said Banka. 'We help them with free testing, melting and hallmarking the gold." For PN Gadgil too, old-gold exchanges are becoming a bigger contributor. 'Approximately 20% of total sales used to come from old-gold exchanges in the past year for the brand. Since a couple of months, it has increased to approximately 25%," said Suresh Krishnan, vice-president of sales. Titan described old-gold exchange schemes as a key lever to manage price sensitivity. Strong relationships Gold prices averaged ₹93,950 per 10 grams in the June quarter and briefly crossed ₹1,01,000 in some Indian cities, according to Senco's quarterly update on 4 July. 'It works well for customers because the gold they already own has appreciated in value," said Prajapati of Ambit Capital. 'They can exchange their old jewellery for new pieces of similar value without spending much additional money, which makes branded purchases more affordable and appealing especially when gold prices are high." This helps the company maintain strong customer relationships and, in turn, helps customers establish trust and transparency with the jeweller, he said. JM Financial forecasts a 20% CAGR for India's organised jewellery market through FY28, driven by hallmarking mandates, PAN-linked purchases, and a shift toward branded jewellery in smaller towns. 'The Indian jewellery market was worth INR 6.4 trillion in FY24, with an organised share of 38%. The organised segment is expected to witness higher growth of 20% over FY24-28E," JM Financial analysts noted in a 14 July report.
Mint
17-07-2025
- Business
- Mint
Kalyan Jewellers share price hits 6-month high as rally extends to fourth straight session. Is ₹700 the next stop?
Kalyan Jewellers share price has extended its winning run to the fourth straight session on Thursday, July 17, gaining another 3.2% to hit a 6-month high of ₹ 609.50 apiece. The stock has come into the spotlight in recent sessions after domestic brokerage JM Financial initiated coverage with a 'Buy' rating. It highlighted the company's hyperlocal approach to cater to diverse regional consumer preferences, the increasing share of organized players in the jewellry market, and Kalyan's rapid expansion strategy via its franchise model as key drivers of future growth. Notably, JM Financial believes the shift to an asset-light franchise structure will support faster store rollouts and long-term profitability. The stock's reasonable valuations also contribute to the brokerage's optimistic outlook. The brokerage has assigned a target price of ₹ 700 apiece for the stock. According to the brokerage, Kalyan has been on an aggressive expansion spree since adopting the franchise model. This approach, considered highly capital-efficient, places the responsibility for store inventory and capex on franchise partners, thereby enabling quicker store additions. In FY25, Kalyan added 74 net stores in India and is targeting the addition of 85–90 stores annually over FY26–28E. JM Financial believes the company would need five to six more years of expansion at this pace to match Tanishq in terms of store count. The brokerage said, the company, over the years, has developed strong competitive moats, including brand positioning built on trust and transparency, a hyperlocal strategy, and its 'My Kalyan' initiative that enables customer acquisition in regions where it has no physical presence—contributing 15% of FY24 revenue and said it also maintains a well-balanced product mix. Further, Kalyan has taken meaningful steps to improve corporate governance, such as appointing best-in-class auditors and selling non-core assets to reduce debt, which JM Financial believes will strengthen investor confidence. On the financial front, the brokerage estimates revenue, EBITDA, and PAT to grow at a CAGR of 25%, 23%, and 31%, respectively, over FY25–28E, led by the addition of 278 new stores during the period. RoE and RoIC are also expected to improve to 24% and 23% by FY28 from 18% and 13% in FY25, reflecting enhanced profitability and lower capital requirements under the franchise model. Kalyan Jewellers has shown consistent performance, with over 26% year-on-year growth in both revenue and PAT for the last eight quarters. JM Financial believes this sustained momentum has positioned Kalyan as a positive outlier in the discretionary space, which could lead to a potential re-rating of the stock.
Mint
17-07-2025
- Business
- Mint
Kalyan Jewellers share price hits 6-month high as rally extends to fourth straight session. Is ₹700 the next stop?
Kalyan Jewellers share price has extended its winning run to the fourth straight session on Thursday, July 17, gaining another 3.2% to hit a 6-month high of ₹ 609.50 apiece. The stock has come into the spotlight in recent sessions after domestic brokerage JM Financial initiated coverage with a 'Buy' rating. It highlighted the company's hyperlocal approach to cater to diverse regional consumer preferences, the increasing share of organized players in the jewellry market, and Kalyan's rapid expansion strategy via its franchise model as key drivers of future growth. Notably, JM Financial believes the shift to an asset-light franchise structure will support faster store rollouts and long-term profitability. The stock's reasonable valuations also contribute to the brokerage's optimistic outlook. The brokerage has assigned a target price of ₹ 700 apiece for the stock. According to the brokerage, Kalyan has been on an aggressive expansion spree since adopting the franchise model. This approach, considered highly capital-efficient, places the responsibility for store inventory and capex on franchise partners, thereby enabling quicker store additions. In FY25, Kalyan added 74 net stores in India and is targeting the addition of 85–90 stores annually over FY26–28E. JM Financial believes the company would need five to six more years of expansion at this pace to match Tanishq in terms of store count. The brokerage said, the company, over the years, has developed strong competitive moats, including brand positioning built on trust and transparency, a hyperlocal strategy, and its 'My Kalyan' initiative that enables customer acquisition in regions where it has no physical presence—contributing 15% of FY24 revenue and said it also maintains a well-balanced product mix. Further, Kalyan has taken meaningful steps to improve corporate governance, such as appointing best-in-class auditors and selling non-core assets to reduce debt, which JM Financial believes will strengthen investor confidence. On the financial front, the brokerage estimates revenue, EBITDA, and PAT to grow at a CAGR of 25%, 23%, and 31%, respectively, over FY25–28E, led by the addition of 278 new stores during the period. RoE and RoIC are also expected to improve to 24% and 23% by FY28 from 18% and 13% in FY25, reflecting enhanced profitability and lower capital requirements under the franchise model. Kalyan Jewellers has shown consistent performance, with over 26% year-on-year growth in both revenue and PAT for the last eight quarters. JM Financial believes this sustained momentum has positioned Kalyan as a positive outlier in the discretionary space, which could lead to a potential re-rating of the stock. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
