Coronavirus Outbreak: Gems, jewellery exports stare at steep fall in Q1 next fiscal as disruptions hit operations: Report
A 41 percent annual decline in cut and polished diamond exports led to a cumulative exports fall of 19 percent year-on-year for the overall gems and jewellery industry in February 2020, it added.
PNB fraud: Nirav Modi's assets, valuables worth Rs 255 cr seized by Enforcement Directorate in Hong Kong
Earlier, on 30 September, the ED had attached assets worth Rs 637 crore of Modi and his family, including two apartments in New York’s iconic central park, as part of its fresh action in the $2 billion alleged bank fraud in the PNB.
Planning to purchase diamonds? Insist on invoice to avoid being given a synthetic stone, say jewellers
Concerned over the alleged sale of synthetic diamonds under the guise of real diamonds, jewellers here have cautioned people against purchasing the precious stones without invoice so as to avoid duplication
Many traders told Firstpost speaking anonymously that Modi and his uncle deliberately cheated Punjab National Bank in collusion with bank officials. While others in the trade said that it was a business strategy that did not work out well which led to the “mama-bhanja”s business going belly-up.