The month-long carnival (after the April 20 wedding) will be held in 10 or12 cities and will showcase a collage of the couple's films, paintings and photographs, apart from exhibiting Gitanjali's new wedding collection.
The gold prices on Tuesday dipped as low as Rs 11,000 per 10 gram, down nearly one-fifth from this year's high of Rs 13,650 scaled nearly a month-ago on July 15. The price has come close to its level seen during the Diwali season last year, when it stood at near Rs 10,500 per 10 gram. This year, Diwali falls on October 28.
Glimpses from the closing day of India International Jewellery Week.
However, Jaitley's son-in-law had earlier issued a statement stating that his law firm had returned the retainership the moment they came to know that the company was involved in a scam.
Here's a look at celebs who graced the ramp on Day 2 of Indian International Jewellery Week 2015.
The banks also received a warning from the rating agency Care, in February 2016, after Firestar's financials deteriorated.
The 91.9 per cent slide in the stock price of Gitanjali Gems since April has depleted the value of promoter Mehul Choksi's holding in the company by at least Rs 17 crore (Rs 170 million) a day on an average.
The actor had appeared in the a TV commercial for the brand along with Sidharth Malhotra.
The I-T department also attached 34 bank accounts and fixed deposits, valued at Rs 1.45 crore, of the Gitanjali group.
'The fact remains that as of today, the justice that I deserve is far off, as it shall take time to prove my innocence, and the future seems uncertain presently,' Mehul Choksi tells his employees in a letter.
ED attached 21 properties of Nirav Modi and his group worth over Rs 523 crore.
Officials said they have put freeze orders on bank accounts containing Rs 30 crore and shares worth Rs 13.86 crore of the group.
It has also attached fresh 66 banks accounts, holding deposits of Rs 80.07 crore, of the Gitanjali group, owned by Modi's uncle Mehul Choksi.
Gold jewellery exports may decline by about 50 per cent in this financial year from last year after government restrictions reduced the availability of raw material, Gitanjali Gems Chairman and Managing Director Mehul Choksi said.
Regulator probing jewellery houses for violation of collective investment scheme rules, says Shrimi Choudhary.
The Income Tax Department on Tuesday also raided 20 premises linked to Gitanjali Gems promoter Mehul Choksi and suspected shell firms in connection with an alleged tax evasion case against them, official sources said.
Shares of jewellery makers on Monday fell sharply by up to 20 per cent following dip in global prices of gold.
According to the RTI reply, absconding diamantaire Choksi's company Gitanjali Gems tops the list of the defaulters with a whopping amount of Rs 5,492 crore. This is followed by REI Agro with Rs 4,314 crore and Winsome Diamonds with Rs 4,076 crore. Rotomac Global Private Limited has funded advances of Rs 2,850 crore which have been technically written off and Kudos Chemie Ltd with Rs 2,326 crore, Ruchi Soya Industries Limited, now owned by Ramdev's Patanjali, with Rs 2,212 crore and Zoom Developers Pvt Ltd with Rs 2,012 crore being the other companies to default on the payment. Mallya's Kingfisher Airlines figures in the list at number 9, with outstanding of Rs 1943 crore which have been technically written off by the banks.
Nirmala Sitharaman said Nirav Modi may have been able to run away from the country, but the government is taking action against him, and claimed that it will "surely nab him".
A quick computation puts the following value to the seizures.
The US Department of Justice declined to comment on Modi.
Banks have become more vigilant over the past two weeks, with many more officials involved in loan approval and disbursal.
The CBI has filed a fresh case against absconding diamantaire Mehul Choksi, wanted along with his nephew Nirav Modi in a loan fraud case of Rs 13,500 crore, for allegedly inflating the value of diamonds and jewellery pledged to get Rs 25 crore loan from IFCI, officials said on Monday. The CBI has booked Mehul Choksi, his company Gitanjali Gems and valuers Surajmal Lallu Bhai and Co, Narendra Jhaveri, Pradip C Shah and Shrenik Shah, they said. The central agency has acted on a complaint from Industrial Finance Corporation of India (IFCI) Ltd alleging that Choksi had approached it in 2016 seeking Rs 25 crore working capital loan for which he had pledged shares and gold and diamond jewellery.
The event will also hurt PNB's asset quality in the March 2018 quarter. While the finer details of the fraud have not been provided, making it difficult to gauge the exact impact, analysts say it will dent the bank's financials.
Polling for the 288-seat Assembly is being held in a single-phase on Wednesday.
Officials said the Enforcement Directorate along with the Central Bureau of Investigation launched fresh searches on March 22 at the Samudra Mahal luxury residential flats of Modi in Mumbai's Worli area which resulted in the recovery of fresh valuables.
The plea also sought a directive for the constitution of a committee of experts who would find the details of bad debt cases in the country.
Despite recent developments that have accelerated the impending extradition of fugitive diamantaire Nirav Modi, who has been in custody in London's Wandsworth Prison for over two years, the last month has seen his uncle Mehul Choksi dominate the headlines instead with his circus-like exhibition in the Caribbean that has involved red herrings such as a "girlfriend", to whom his wife seemed to have no objection, and possibly concocted stories of being kidnapped and manhandled. Choksi was widely regarded as Modi's Svengali in Mumbai when he returned from Belgium to expand his business. He had fled to Antigua well before news around how Modi finagled thousands of crores from Punjab National Bank (PNB) and other institutions through a series of allegedly coordinated and fraudulent actions involving letters of undertaking, or LoUs.
Building a global brand was Choksi's idea, which Modi borrowed from him.
The price is at a 4-year low, stabilising around Rs 25,000/10gm.
The bench also said there was merit in ED's contention that while the "driving force behind the companies" (Modi) was not submitting to the agency's jurisdiction, his companies cannot be given any discretionary relief.
Indian jewellers such as Gitanjali Gems, Malabar Gold and Kalyan Jewellers have opened stores abroad to limit the slump in sales.
Gold was Rs 28,100 per 10 gm on July 26, 2014.
Demand bounces back but uncertainty over GST rate for jewellery casts a shadow over future.
'Irrespective of the price movement of gold, customers can lock in their purchase at Rs 28,000 per 10 grams of pure gold.'
Buying had been muted in the past few weeks.
There is a two-minute footage about Choksi in the series which allegedly shows him in a bad light and therefore, could affect the various proceedings against him in India.
The agency has so far seized diamonds, gold jewellery and other precious stones worth Rs 5,716 crore in the case and summoned Modi and Choksi, the promoter of Gitanjali Gems, to appear before it on February 23 at its Mubai zonal office.
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