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Wednesday, December 02, 2020

Winsome Diamonds

WINSOME DIAMONDS NEWS

Maharashtra: Wilful defaulter Winsome Diamonds to be liquidated

October 07, 2020 10:35 am

With the National Company Law Tribunal liquidation order, the creditors of Winsome, mainly banks, are likely to take a haircut of 98 per cent since the diamond firm has assets of only about Rs 200 crore in its balance sheet that can be liquidated, said sources.

ED registers two new cases against Winsome Diamonds, former promoter

June 29, 2020 1:33 am

Winsome Diamonds and its subsidiaries owe nearly Rs 10,000 crore, including interest, to a consortium of 15 banks led by Standard Chartered and Punjab National Bank (PNB).

Accused Canara officials flouted bank manuals: CBI chargesheet on Winsome Diamonds case

August 26, 2018 12:48 am

The CBI has said that Mehta along with others purchased gold from bullion banks abroad such as the Bank of Nova Scotia, Standard Bank, and Standard Chartered bank against the Standby Letters of Credit issued by Indian banks.

Winsome diverted $750 million to promoter’s firms abroad: Probe

August 23, 2018 9:52 am

Winsome Diamonds, which was declared as a “wilful defaulter” in 2016, has claimed that it did not divert funds and was a victim of non-payment by Obaidah’s firms.

$210-million assets: I-T moves court against Winsome owner’s wife

July 23, 2018 12:15 pm

Winsome Diamonds is the country’s second largest wilful defaulter, and owes Rs 4,687 crore to a consortium of banks headed by Standard Chartered Bank.

Raman quits RBI panel, says CBI chargesheet created ‘anguish’

July 01, 2018 1:57 am

On the loan to Winsome Diamond, Raman's email said that “we have less than 8 per cent in the consortium, in which the leader has more than 40 per cent, besides six other banks".

Winsome owner exploited holes in law to use Indian passport: Probe

June 26, 2018 4:44 am

“A grace period of three months is allowed from the date of acquisition of foreign citizenship, for the purpose of travel on Indian passport. Therefore, no penalty will be leviable for travel on Indian passport within three months of acquisition of foreign passport,” stated the circular

Assets of defaulter Winsome Diamonds to be auctioned

July 21, 2017 3:13 am

Most of the properties to be e-auctioned are commercial offices in Mumbai, Kolkata, Valsad and Goa, according to a bank official. The auctions will be conducted through www.bankeauctions.com between noon and 1 pm on August 29.

Winsome Diamonds promoter, wife take up St Kitts citizenship

June 02, 2016 2:59 am

Investigators said Jatin and Sonia gave up Indian citizenship in 2013-14. Mehta is currently residing in Dubai, according to probe agencies.

CBI questions PNB board members on loans to diamond company, subsidiaries

April 12, 2016 2:40 pm

Winsome Diamonds owes Rs 4,680.04 crore to a consortium of lenders headed by Standard Chartered Bank. Winsome’s associate Forever Precious Diamonds and Jewellery Ltd owes another Rs 2,121.82 crore to a set of banks led by PNB.