Laljibhai Patel
In Picture: Laljibhai Patel, the Gujarati diamond merchant incorrectly reported to have surrendered Rs 6,000 crore.Creative Commons

Gujarat-based diamond merchant Laljibhai Patel has denied rumors that he surrendered Rs 6,000 crore in cash after Prime Minister Narendra Modi's decision to demonetise high-value currency notes.

"Yesterday morning, I received a message saying that I'm apparently surrendering Rs 6,000 crore. The message said I'm a builder. But I'm not a builder,  I'm a diamond merchant and into import-export business. All these rumours are fake, please don't believe these rumours." said Laljibhai, adding that there's no question of money disclosure.

Last year, the 62-year old had purchased a suit worn by PM Modi for Rs 4.31 crore. The suit had made headlines as PM Modi's name was woven into it in gold pinstripes.

The seventh richest jeweller of the country with a net worth of around $480 million often makes sensational headlines. Reports had suggested that Laljibhai gifted cars and flats to his employees during Diwali and others suggested that he also donated Rs 200 crore to 10,00 girls in order to support their education.

However, Laljibhai is not to be confused with Surat-based diamond merchant Savji Dholakia, who also showered his employees with gifts during Diwali.

Here is Laljibhai negating the rumors: