Ranjith (34) of Arumanai was arrested for allegedly trying to pledge imitation jewels in a private finance firm in Marthandam on Saturday.
Three friends
According to police, Ranjith approached the finance firm for loan against four bangles along with his three other friends.
As it was found that that Ranjith and his friends brought imitation jewellery, a complaint was lodged by firm owner Ambuli with Marthandam police.
Before Sub-Inspector of Police Muthuraj reached the shop, all, except Ranjith, escaped. A hunt is on to nab them.
Ranjith was produced before a local magistrate and was remanded in judicial custody, the police said.
