Calcutta Gem & Jewellers Welfare Association Creates Awareness on Prevention of Money Laundering Act
In a recent communication addressed to jewellers and members, the Executive Committee of the Calcutta Gem & Jewellers Welfare Association highlighted the importance of understanding and adhering to the provisions of the Prevention of Money Laundering Act (PMLA).
ED arrests Hyderabad-based jewellery firm promoter
Agarwal was produced before a special PMLA court in Hyderabad and remanded to 15 days of judicial custody
ED attaches assets worth Rs 363 cr of jewellery firm
The ED case against the accused was made out on the basis of a Hyderabad CBI Anti-Corruption Bureau FIR and chargesheet
Decoding PMLA Rules & Regulations-PMLA Regulations
The recent PMLA notifications issued to the G & J industry had the G & J industry reeling under its pressure and anxiety for sometime; Rohan Shah in conversation with Colin Shah, Chairman GJEPC comes forward to clear the air
Malabar Group Urges Govt To Reduce Tax Rate
Malabar Group chairman MP Ahammed said the government should create an enabling environment for the jewellery retail trade to introduce MRP pricing in the segment without any pricing break-up in terms of GST or other taxes
Record-Keeping Of Cash Deals In Gems And Jewellery Trade Now A Must Under PMLA
For income tax purposes, cash transactions up to a threshold of Rs 2 lakh without KYC --PAN or Aadhaar -- are allowed in the gems and jewellery sector. Any sale in cash above Rs 2 lakh requires KYC
ED files money laundering case in IMA Jewels scam
The agency's zonal office in Bangalore has filed an Enforcement Case Information Report (ECIR), similar to an FIR, and has pressed criminal charges under the Prevention of Money Laundering Act (PMLA), the officials said
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
Choksi diverted over Rs 3,250-crore to foreign shores, sold jewellery at inflated prices: ED
The agency, which is probing the USD 2 billion alleged bank fraud said Choksi was “using several dummy companies” to rotate funds and to divert money for his personal use.
Shree Ganesh Jewellery promoter arrested by DRI in multi-crore fraud case
Parekh was last year arrested by CBI in connection of defrauding a consortium of banks led by State Bank of India, for non-payment of loan to the tune of Rs 2,672 crore.
PNB case: Enforcement Directorate seizes Rs 85-crore worth jewellery of Choksi's firm brought from Dubai
The Enforcement Directorate today said it has seized over 34,000 pieces of jewellery worth Rs 85 crore from the Gitanjali Group, owned by diamantaire Mehul Choksi, in connection with the Rs 13,000-crore Punjab National Bank (PNBNSE 0.39 %) fraud case.
Gold jewellery demand may fall by 2-4% this year
However, in value terms, the demand for gold jewellery is likely to register a growth of 5-7 percent during the year, rating agency Icra said in its report.
Seized Mehul Choksi firm's jewellery for involvement in laundering: ED to HC
A bench of Justices S Muralidhar and I S Mehta were hearing a plea by Choksi's firm challenging the alleged illegal seizure of documents and articles by the probe agency in a money laundering case in connection with the over Rs 11,000 crore Punjab National Bank (PNB) fraud case.
ED & CBI should probe 35 jewellery houses for misusing the 80:20 gold import scheme
The revenue secretary and top officials of the ED, the Central Board of Direct Taxes and the Central Board of Excise and Customs had appeared before the panel.
2017: A Rollercoaster Ride for Jewellery Industry
Policy changes last year created a lot of upheavals in the Indian gems and jewellery
industry. A good medicine tastes bitter; likewise, the policies may have caused
a short-term mayhem in the industry, however, the gradual transition with GST is
meant to do good in the long term. It’s definitely a move towards more transparent
and organized way of doing business. By Kavita Parab
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