The city police have arrested a man accused of stealing a gold necklace set worth nearly ₹8 lakh from a jewellery shop in Sarafa Bazar and later pledging it with a gold loan company in Meerut to obtain a loan.A case under Section 305 (theft) of the Bharatiya Nyaya Sanhita was registered against an unidentified person. (HT File)Police said the theft appeared to be premeditated and suspect the accused had travelled to Ludhiana with the intention of stealing gold jewellery and converting it into cash through a gold loan.The accused, identified as Mohammad Asfar, a resident of Shamli, Uttar Pradesh, had reportedly been living in Chandigarh for some time. According to police, he travelled to Ludhiana to execute the theft and booked a hotel in the city’s old area as part of his plan.The theft took place on June 9 when jeweller Atam Prakash Bhasin was at his Sarafa Bazar shop along with an employee. Police said the accused entered the shop posing as a customer and asked to see gold necklace sets. While the jeweller was showing multiple designs, the accused allegedly distracted him and fled with a necklace set when the shopkeeper briefly looked away.A case under Section 305 (theft) of the Bharatiya Nyaya Sanhita was registered against an unidentified person at Division No. 1 police station.During the investigation, police analysed CCTV footage and used technical surveillance to identify the accused. Additional deputy commissioner of police (city-I) Sameer Verma said the accused was traced and arrested in Delhi.Police said the accused fled to Meerut after the theft and pledged the stolen necklace with a gold loan company. A police team has been sent to recover the jewellery, they said.The ADCP said investigators are also verifying whether the accused was involved in a similar theft in Chandigarh. Further interrogation, he added, is expected to reveal whether he committed other thefts using the same modus operandi of stealing jewellery and quickly pledging it with gold loan companies to raise cash.