UAE has finally allowed its banks to hand information over to India about Winsome Group, a top defaulter which owes Rs 6,800 crore to 15 ba...

Investigative agency wants to reach out to UAE central bank for details on a dozen accounts in connection with .`6,800-cr default; informat...

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

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...

Agencies such as ED and CBI need help from the UAE to verify Winsome’s explanation for its inability to repay Indian banks

Winsome Diamonds and Jewellery, a listed company, and group firm Forever owe Rs 6,800 crore to 15 banks in India.

Winsome group, according to banks, is India’s second-largest wilful defaulter after Vijay Mallya’s Kingfisher Airlines.

The law enforcement and economic intelligence agency will move the special court in the next three weeks to secure a warrant.

ED has initiated letters rogatory (LR) to obtain information from authorities in United Arab Emirates (UAE) on dealings related to Winsome ...

British bank Standard Chartered (StanChart) has knocked on the doors of the Prime Minister’s Office (PMO), seeking the state’s help to go a...

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

The arrangement was if Winsome failed to pay the bullion banks, Indian banks would step in to pay for the gold consignment.

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

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.

Indian banks have forked out well over Rs 4,000 cr to int'l bullion banks on behalf of Winsome but are unsure whether the money can be salv...

The banks want to verify Winsome's claim that its inability to pay is due to financial difficulties faced by overseas customers.