By the time the alleged fraud surfaced, Mehta had left the country and was believed to be in one of the The Caribbean islands, the sources ...

Mustafa Batliwala, key aide of group founder Jatin Mehta, is feared to have left the country.

While credits and guarantees to Winsome were sanctioned limits authorised by the bank, the LoU fraud was a string of clandestine deals.

Creditors have been asked to submit claims by Feb 27. Under insolvency process, Winsome Diamonds board was suspended and the IRP vested wit...

According to PNB’s complaint to the CBI, the accused bank officials fraudulently issued letters of undertakings without making entries into...

Winsome Group is India’s second largest wilful defaulter after Mallya’s Kingfisher Airlines; group firm Forever owe Rs 6,800 crore to 15 ba...

In FY17, exports of gems and jewellery from India rose by 9.85 per cent.

The director had asked Winsome to take legal action against Winsome promoter Jatin Mehta who left the country for Dubai a few years ago.

In the summer of 2013, Winsome Group, an almost forgotten name now, had rattled the Indian bullion and diamond markets after it defaulted w...

The company has claimed that it was taking legal action against Gulf entities that purportedly was responsible for default of over Rs 6,500...

Selling man-made diamonds, which are almost 30-40% cheaper than the natural ones, is a legitimate business. But what is worrying the trade ...

Winsome promoter Jatin Mehta told the banks that his buyers of gold in UAE had defaulted on payments, making him unable to repay the loans.

Forever Precious Jewellery is a subsidiary of Mumbai-based Winsome Diamonds and is promoted by Jatin Mehta, who no longer resides in India.

If Winsome Diamonds goes under, lenders will bear a loss of Rs 4,000-5,000 crore because the security pledged with the banks is less than o...

Two of the lenders to troubled Winsome Diamonds said they are not averse to restructure their Rs 6K-cr loans, including Rs 4K-cr LCs encash...

The core group includes PNB, Bank of India, Central Bank of India and Canara Bank, according to a bank official.

International bullion banks likely to have invoked LCs worth more than Rs 4k cr after the jeweller Winsome failed to cough up a smaller amo...