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NIRAV MODI GEMS
The curious case of Rajesh Exports: Massive revenues, meagre profitsIndia's fourth-largest company, Rajesh Exports, faces a Sebi probe for alleged financial fraud. Investigations point to accounting irregula...- ED attaches gems, bank deposits worth over Rs 253 cr of Nirav Modi group in Hong KongSome assets of Nirav Modi group of companies in Hong Kong were identified in the form of gems and jewelleries lying in private vaults and b...
- Availing funds from banks a challenge after PNB scam: JewellersNirav Modi and Choksi are being investigated by the ED for allegedly cheating PNB to the tune of more than USD 2 billion or over Rs 13,000 ...
- Nirav Modi's brother fled with 50kg gold jewellery: Enforcement DirectorateChoksi’s attempt to ferry gold and diamonds from Dubai was thwarted by ED officials, who coerced one of his employees to bring it back into...
- 'Nirav Modi fled Hong Kong in February, moved to US via UK'A government investigation has revealed that Nirav, wanted in Rs 13,578 crore PNB fraud, after fleeing from Hong Kong, stayed in London for...
- Nirav Modi got back PNB stash via hawala routeInvestigators have discovered that in many instances Choksi brought money from overseas into the account of his company, Gitanjali Gems.
- Diamond trade to meet bank body to clarify stand on funds via LoUsThe trade will also urge the banking lobby group not to restrict fund flow to the sector that comprises a large number of medium and small ...
- SBI to tighten gems & jewellery sector borrowing normsSBI has reviewed all loans given to jewellers in the wake of the Nirav Modi scam to find out whether adequate safeguards were taken while g...
- SBI tightens noose around borrowers in jewellery sectorThe decision was driven by the board which directed the management to plug the gaps in risk mitigation system, especially for borrowers in ...
- Gitanjali Gems falls further, hits fresh 52-week lowThis is the 16th straight session of fall for the stock.
- LIC faces Rs 25 crore exposure to GitanjaliIf LIC pursues recovery under the Insolvency and Bankruptcy Code (IBC) in the National Company Law Tribunal (NCLT), it will have to give up...
- PNB fraud to shrink gems & jewellery sector by 16%The absence of Nirav Modi and Mehul Choksi firms is expected to shrink turnover of the industry by 16% and reduce diamond and jewellery tra...
- Individual investors, FPIs, LIC to be restrained from transferring shares of Gitanjali GemsThis is because of an NCLT order that freezes all the moveable and immovable assets of 64 entities , including Nirav Modi and Mehul Choksi ...
- Priyanka Chopra to terminate contract with Nirav Modi JewelsFinancial fraud charges to the tune of Rs 11, 300 crore have been made against Nirav Modi.
- Jewellery Export Council may cancel Firestar, Gitanjali Gems’ membershipAccording to a council official, cancellation of membership can cause problems for exporters as banks and suppliers often ask for certifica...
- PNB Fraud: CBI to seek special court nod to probe offshore locationsCBI court will likely issue LRs to extend the investigation into the PNB fraud to offshore locations where Nirav Modi firms and Mehul Choks...
- IndusInd Bank exposure to Gitanjali Gems in 'small' 2-digitsCiting GPEC press statement, IndusInd Bank said there are stringent norms for bank finance to the gem and jewellery trade stipulated by the...
- We are trying to clean Congress' mess, says Nirmala SitharamanIn government's defence, Sitharaman brought out papers that purportedly point to Congress leader Abhishek Singhvi's link to Gitanjali jewel...
- Only Gitanjali store in city in winding up process: EDA senior ED official told PTI that the department's officials went to the Camac Street store of Gitanjali Gems, but found the shop closed.
- Other banks need to own up, says PNB in a veiled threat"PNB appears to be avoiding taking the entire responsibility for the scam"
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