The Enforcement Directorate has attached absconding jeweller Nirav Modi’s assets and valuable worth Rs 255 crore in Hong Kong in connection with $2 billiion alleged fraud in Punjab National Bank.
Mehul Choksi
Gold Jewelers in India are Expecting a Cool Reception in the Short Term
Gold Silver Reports (GSR) – Gold Jewelers in India are Expecting a Cool Reception in the Short Term — Joyalukkas Group has put an initial share sale of its jewelry business on hold and will revisit the proposal after national elections next year, Baby George, chief executive officer of the Kerala-based company, said in an interview Thursday. The fraud claims also have seen banks review funding for the gem and jewelry sector, he said. Gold jewelers in India are expecting a cool reception in the short term to any plans to publicly trade shares in the wake of an alleged $2 billion fraud by jewelers Nirav Modi and Mehul Choksi.