The Telangana High Court in Hyderabad made a decision that police can take stolen gold jewelry even if it’s with gold loan companies. This happened after some companies like Manappuram Gold Finance tried to argue that because they’re approved by the Reserve Bank of India (RBI) they shouldn’t be affected. The court said this was important because stolen jewelry is often used to get loans.
The judge in the case explained that people who steal things often take that stolen gold to loan companies for money. This makes it hard for the people who were robbed to get their stuff back. The court said that even though the loan companies follow RBI rules, stolen items are a different kind of issue that allows them to be taken by the police.
The government lawyer argued that the police should be able to seize stolen property no matter where it is and the court agreed. Basically the court’s ruling means that just because a gold loan company is holding stolen items doesn’t mean it’s safe from the police. This should help victims get their stolen jewelry back more easily.