PC Jeweller's Stock Market Woes: Legal Proceedings, Loan Recall Notices, and Insider Trading Allegations
Delhi-based jewellery chain PC Jeweller is facing a tumultuous time in the stock market, with its shares plummeting by over 75% since January 2018. The company is embroiled in legal proceedings with the State Bank of India and four other banks as well.
CBI registers fresh case against Mehul Choksi
The case has been registered based on a complaint filed by IFCI in November 2020; Choksi is already on the run for involvement in a previous case where he was accused of defrauding the Punjab National Bank (PNB) of Rs 13,000 crore, along with Nirav Modi
IJ REVIEW: 'Behind Every Meteoric Rise There Is A Murky Secret'
This is precisely what recently released ‘Bad Boy Billionnaires: India’ on Netflix tries to tell its viewers. IJ reviews the Nirav Modi docudrama from this net series
ECG insurance benefit likely to make a comeback for gems and jewellery sector
Bank finance, currently applicable for pre- and post-shipment of goods, will be covered by the Export Credit Guarantee Corporation (ECGC)
Gems and Jewellery exports slip by 16.3% in June
Exports of gems & jewellery dipped 16.26 percent to USD 2.82 billion in June from USD 3.37 billion in June 2018, according to the data from the Gem & Jewellery Export Promotion Council
Banks curb exposure to gems and jewellery industry
Banking exposure dropped ₹4,400 crore to ₹65,700 crore over the year according to latest data issued by the Reserve Bank of India
May sees a sharp decline of 12.85% in Indian Gems and Jewellery exports
Combined exports in April and May took a 9.11 per cent plunge to $6.07 billion according to the data provided by GJEPC
Jewellery chains under scanner post PNB scam
SBI’s total exposure to the gem and jewellery sector was Rs 12,408 crore as of March 2019, out of which Rs 797.59 crore loans were classified as NPAs
Trade expects new government to upgrade gold as asset class
The trade is also expecting that government will make an effort to increase banking to the gem and jewellery sector, which has been facing the brunt of the banks after the infamous Nirav Modi scam
Cash crunch curbs jewellers expansion plans
Jewellers are moving slower on their store expansion plans as securing bank credit has become tougher for the industry post PNB scam. Even the exports were affected last fiscal. However, the industry thinks that banks will take a positive outlook for the industry in FY20
Fugitive Nirav Modi denied bail for third time- will remain in UK jail
Diamond merchant made bail plea due to ‘unlivable’ conditions of jail, but was denied by judge
Nirav Modi extradition: CBI team likely to leave for UK
A Joint Director-level officer has been deputed to leave for London Wednesday with necessary documents
ED attaches Nirav Modi's properties worth Rs 147 crore
The agency in a statement said that the action was taken under sections of the Prevention of Money Laundering Act (PMLA) 2002
Is Mehul Choksi being brought back? Long-range Boeing with ED, CBI officials may head for West Indies
Govt sources have confirmed that India is moving ahead to bring high-value economic offenders from West Indies
Is the Indian Jewellery Industry High-Tech Enough?
Embracing Technology
