According to D B Marg police, who are investigating the case, 211 pieces of diamonds were kept in the private safe deposit vault of Vatsa Corporation Limited on May 18. When the depositor Dinesh Savani opened the locker four days later, the precious stones had disappeared.

Police said the diamonds, valued at nearly Rs two crore, were of 2,400 carats. Savani is a diamond merchant operating from Panchtantra Building at Marine Lines.

Police suspect the diamonds could have been stolen by some person known to the merchant. No arrests have been made so far.

In another case, a four-member gang involved in stealing quartz watches and assorted parts has been busted in central Mumbai.

According to police, the gang had so far stolen quartz watches and spares valued at around Rs 4.25 lakh. Stolen goods worth Rs 3 lakh have been recovered from the accused, police claimed.

The four accusedhave been identified as Santosh Padale (18), Bharat Banwane (19), Dharmendra Sutar (23) and Muktarahmed Wahid (33). Wahid received from the other three more than 250 watches, stolen over a period of two months, police said.

The matter came to the fore when Hemant Tadke, manager of Cenzer Watch Company at Jalbhai Street, 11 Khetwadi Lane, found a discrepancy in the manufacturing chart. A significant number of watches and other spares were found missing and a complaint lodged on May 19. According to police sources, the stolen items included 1,000 watch cases, 1,000 belts, 2,000 pieces of movement and 1,000 chambers.

The next day, D B Marg police arrested Sutar and Banwane. The duo disclosed the name of Padale, who was arrested four days later from Jawali Village near Satara.

The three confessed they had stolen the watches and spares to make a quick buck. The money, they thought, would enable them to carry out the repair work of their homes at their native place.

Wahid, receiver of the goods, told policehe wanted to make some quick money to pay as donation for his daughter's admission to a reputed school in central Mumbai.