Tritiyaa Fine Jewellery founder Kanthi Dutt arrested in Hyderabad for alleged fraud, forgery

Hyderabad: Following accusations of fraud and forgery, Jubilee Hills police on Sunday arrested city-based entrepreneur and the founder of Tritiyaa Fine Jewellery Kanthi Dutt.

The arrest follows claims of investment fraud against Parineeti Chopra, a Bollywood actress, and other parties. The case came to light after the co-founder of Tritiyaa, Srija Tippala, made a formal complaint. Earlier this year, several cases have been registered against him including allegations made by Srija Tippala.

In her complaint, Srija said that Dutt falsified her qualifications and removed her from her position as director of the company, substituting his mother for her. After investing more than Rs 2.5 crores in the company, Srija used an RTI application to uncover the fake.

India Accelerator (IA) made accusations against Dutt that he had falsified financial information pertaining to his previous business, SustainKart, which further fuelled the scandal around him. Despite GST filings showing much-reduced revenue, investors allege that Dutt falsified financial reports to obtain more money.

Legal actions have been taken by IA and other investors who gave SustainKart more than Rs 2 crores. Parineeti Chopra, a Bollywood actress who had previously disclosed her investment in Tritiyaa Fine Jewellery, is reportedly among those impacted by Dutt’s activities, which further heightened the situation.

Other well-known individuals, such as celebrity designers and Samantha Ruth Prabhu, are also said to have fallen for the scam. Through a variety of business endeavours, the Visakhapatnam-born entrepreneur had made a name for himself in Hyderabad’s prestigious commercial society.

Tritiyaa Fine Jewellery and SustainKart were launched as a result of his first fashion retail relationship with Shilpa Reddy. Kanthi Dutt’s commercial prominence was raised by his ability to secure celebrity endorsements, such as Bollywood star Parineeti Chopra.

Both the Central Crime Station (CCS) and the Jubilee Hills Police Station are investigating Kanthi Dutt, who was arrested. The investigation has grown beyond the original charges, exposing a pattern of purportedly fraudulent actions that have affected other victims in various commercial endeavours.