The Indian High Commission in London on Thursday welcomed the Westminster Magistrates' Court ruling in the extradition case of diamond merchant Nirav Modi, wanted in India to stand trial on charges of fraud and money laundering related to the Punjab National Bank (PNB) letters of undertaking (LoUs) scam case. A senior diplomat at India House said the judgment, which found a prima facie case against the accused, paves the way for the government of India and the high commission officials to liaise with the UK authorities on the next stages of the procedural matters for his early extradition to India. "The judgment paves the way for the government of India, including the High Commission of India in London, to liaise with the UK authorities on the procedural matters," said the diplomat at the High Commission. "As with previous extradition cases, we will press on with the next steps," he said.
Gold, which lost its sheen to some extent in the second half of 2021, is likely to regain the glitter in the New Year and cross the Rs 55,000-per-10-grams level amid pandemic woes, inflation worries and stronger US dollar. After a stellar run up in 2020 when the yellow metal touched a record high of Rs 56,200 on the MCX in August, the prices are near Rs 48,000 per 10 grams now. This is roughly 14 per cent lower from the all-time highs and 4 per cent lesser compared to January 2021 levels.
Actress Geeta Basra, who is all set to marry Indian cricketer Harbhajan Singh, will wear royal and timeless jewellery on her wedding in Jalandhar on October 29.
The Gurkha 2021 is built on a ground-up modular architecture platform with an all-new wider and longer body, full new interiors, a new crash-compliant, high-strength chassis, new coil spring suspension on all four wheels fine-tuned to achieve the right balance and offer the best in class ride quality on multiple surfaces -- tarmac, rough rural roads and off the road, the Pune-based company said.
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A drop in demand from local jewellers and retailers at current levels weighed on the prices
Nirav Modi, the fugitive diamond merchant wanted in India to face charges of fraud and money laundering in the estimated $2-billion Punjab National Bank (PNB) scam case, has lodged his appeal against extradition from the UK and the case will be heard at the high court in London on December 14. The 50-year-old jeweller, who remains behind bars at Wandsworth Prison in south-west London since his arrest in March 2019, was granted permission to appeal against the Westminster Magistrates' Court extradition order on mental health and human rights grounds. High court judge Martin Chamberlain had ruled on August 9 that arguments presented by Modi's legal team concerning his "severe depression" and "high risk of suicide" were arguable at a substantial hearing.
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In the search, Rs 60 crore were found in 20 accounts of as many shell companies, an official said, adding the I-T team was scanning the records to trace the directors of these companies.
From Alia to Jacqueline, Arjun Kapoor and Karan Johar, most guests were dressed by Bollywood's favourite designer.
Besides law and order, the long standing demand for junking Armed Forces (Special Powers) Act, economic woes of the land-locked state which has hardly any industries, are expected to figure high on the agenda of the unfolding electoral battle between the two main parties with smaller local parties such as National People's Party and the Naga People's Front chipping in with their own demands.
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India Bullion and Jewellers Association said, self-certification of coins by refineries contravenes the basic purpose of a certifying agency.
White is pure. White is powerful. And our movies just love to channelise its immaculate energy and enhance a visual's impact.
Meanwhile, retail jewellery sales in India have declined by 50 per cent since gold price started its uptrend nearly two weeks. Buyers deferred their fresh purchase amid expectations of a correction in gold prices from the current high level.
Looking jaw-dropping in a gold ensemble, the actor walked the ramp at The Wedding Junction.
Once such a notice is issued against a fugitive, the Interpol asks its 192-member countries to arrest or detain the person if spotted in their countries after which extradition or deportation proceedings can begin.
Dowse said that the women's competition will see 10 former Grand Slam champions, including 23-time major winner Serena Williams, along with 81 of the top 100. In the men's event, seven of the world top ten are competing.
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Gold traders and jewellers continued their strike for the 17th day today in protest against the 1 per cent excise duty on non-silver jewellery announced in the Budget.
Silver, however, remained weak and fell by Rs 130 to Rs 39,600 per kg due to slackened demand from industrial units.
O Panneerselvam should not be surprised if the current controversy that he has kicked off is used to rid him of the party coordinator's post, points out N Sathiya Moorthy.
A sharp decline in sales and prospects of a grim future have resulted in a fall in jewellery stocks.
Pre-Diwali Dhanteras sales of gold and silver witnessed a tepid response from consumers on Thursday on account of high prices of the precious metals and sluggish demand due to COVID-19 induced economic hardship, according to jewellers and industry experts. However, jewellers are expecting maximum footfalls on Friday as Dhanteras -- considered the most auspicious day in Hindu calendar for buying items, ranging from precious metals like gold and silver to utensils -- is being celebrated for two days this year.
District Judge Samuel Goozee expressed his concern at the late submission of the documents, said to include largely bank statements relating to the diamond merchant's companies, but has agreed to consider the application for their submission.
The scheme calls for banks, refineries and hallmarking centres to work together.
More than one lakh people had invested in the IMA Jewels which started 17 companies.
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The legal wrangling began within days of Maradona's death from a heart attack in Buenos Aires on Nov. 25.
Gold demand in India dropped by 30 per cent during the July-September quarter to 86.6 tonnes, compared to the same period last year due to Covid-19 related disruptions and ruling high prices, the World Gold Council (WGC) said in a report.
Retail jewellers may be exempted as customers are allowed to buy jewellery up to Rs 200,000 in cash
...with extravagant claims in both the eastern and western sectors, observes Ambassador Talmiz Ahmad, as India is fixated on asserting its border claims based on the McMahon Line.
Reddy, who appeared at the Central Crime Branch office in Bengaluru on Saturday, was arrested after the questioning ended on Sunday morning
In a first for India, bullion derivatives contracts will be settled on a blockchain platform. This will help in global acceptance of gold refined by Indian bullion refineries, giving a fillip to the local industry, exports, as well as investments. From November 1, the National Stock Exchange (NSE) will accept gold delivery only on the blockchain platform.
Reddy, a minister during the previous BJP rule, had been arrested by the Central Bureau of Investigation in 2011 over alleged multi-crore illegal mining scam and granted bail three years later.
'In most schemes, where the monthly investment is a fixed amount, investors run the risk of the price of gold rising during the tenure of the recurring deposit,' notes Harsh Roongta.
The jeweller, who had left the country before Punjab National Bank approached the CBI with complaint against him and Nirav Modi, said the media continued to conduct a trial by itself blowing each and every issue out of proportion.
