Leading diamond jewellery manufacturer and retailer Gitanjali Gems Ltd is entering into real estate business through its maiden residential project at Borivli, in Mumbai's western suburb.
"To support our massive retail activities, we plan to have our own textile brands - three women's wear brands, one men's wear and one kid's wear - in the next six months," says Deepak Tulsian, vice president, retail, of Gitanjali Gems.
Vipul Chitalia was apprehended at Mumbai airport and brought to the CBI office at the Bandra-Kurla Complex in Mumbai for questioning, he said, but did not divulge any other details about Chitalia's alleged role in the PNB fraud.
Gitanjali Gems is close to acquiring a US-based jewellery retail chain with sales of about $100 million. The deal, if it goes through, would be the company's second acquisition in the world's largest jewellery market. Though the deal size and name of the company could not be ascertained, sources said that the acquisition is expected to be completed in 30 days.
The slowdown in the world's largest jewellery market could provide an opportunity for acquisitions. Following the acquisitions of two jewellery chains in the US, Samuel Jewels in December 2006 and Rogers in November 2007, Gitanjali Gems is eyeing a few more buyouts in the world's largest jewellery market.
Former model Gitanjali Nagpal, who was forced into destitution for a brief period, is all set to resume normal life after recovering from mental and physical trauma, caused due to drug abuse and extreme poverty.Gitanjali, who once rubbed shoulders with the likes of Sushmita Sen as a model, is packing her bags at the Vidya Devi Jindal Girl's hostel in Hissar in Haryana and is expected to reach the capital on Tuesday.
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Trading activities of 26 entities, including Gitanjali Gems promoter Mehul Choksi and firms linked to Prime Broking, were suspended on Thursday by market regulator Sebi and the bourses, as part of a probe into suspected market manipulations.
Nayak had earlier resigned from the BJD and joined the BJP and got a nomination from the saffron party.
India's jewellery retailer Gitanjali Group is planning to invest up to $75 million (around Rs 414 crore) in increasing its number of outlets in the UAE to 110 within two years.
Mumbai-based diamond processing and jewellery manufacturer Gitanjali Gems aims to become a global retailer. Lately, the Rs 3,500-crore (Rs 35 billion) company has been in the news for international acquisitions, consolidation in the domestic market and diversification in lifestyle retailing.
Markets regulator Sebi has ordered the attachment of bank accounts and shares and mutual fund holdings of fugitive businessman Mehul Choksi to recover dues totalling Rs 5.35 crore. The latest decision has been taken after Choksi failed to pay the fine imposed on him in October 2022 by Sebi in a case pertaining to indulging in fraudulent trading in the shares of Gitanjali Gems Ltd. Choksi, who was the chairman and managing director as well as part of the promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi, both of whom are facing charges of defrauding state-owned Punjab National Bank (PNB) of more than Rs 14,000 crore.
Sebi on Thursday sent a notice to fugitive businessman Mehul Choksi asking him to pay Rs 5.35 crore in a case pertaining to fraudulent trading in the shares of Gitanjali Gems Ltd and warned of arrest and attachment of assets as well as bank accounts if he fails to make the payment within 15 days. The demand notice came after Choksi failed to pay a fine imposed on him by the Securities and Exchange Board of India (Sebi). Choksi, who was the chairman and managing director as well as part of promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi.
In one of the first global acquisitions by an Indian firm in the retail space, gems and jewellery major Gitanjali Gems has bought US-based Samuels Jewellers for Rs 200 crore
As debts mount, Gitanjali Gems is switching from gold to diamond jewellery besides diversifying into new areas to tide over the restrictions on the gold business.
Gitanjali Datta of Maniabanda in Cuttack district had claimed that her husband Bijay Datta had died in the accident on June 2 and had even identified a body as her husband's.
Gitanjali Group, the Rs 4,500-crore (Rs 45 billion) diamond-studded jewellery manufacturing firm, has evinced interest in setting up a special economic zone (SEZ) for diamond processing industry near Bangalore.
'We want the government to provide job security for all these workers,' says E S N Reddy, district general secretary of CITU.
Gitanjali Gurbaxani remembers her teacher Lalita Lajmi, the artist and painter who passed into the ages on Monday.
She's the crazy cat lady for whom home is where her girls Burfi and Mishti are.
Sebi has barred fugitive businessman Mehul Choksi and one Rakesh Girdharlal Gajera from the capital markets for one year and levied a fine totalling Rs 2.5 crore on them for violating insider trading rules in the matter of Gitanjali Gems. In addition, they have been restrained from buying, selling or otherwise dealing in securities of Gitanjali Gems Ltd (GGL) for a period of two years. Also, the Securities and Exchange Board of India (Sebi) has directed Gajera to disgorge a sum of Rs 15.82 crore.
Several trains under the purview of SER and ECoR were cancelled or diverted on Wednesday, including the premium Rajdhani Express and Vande Bharat Express, owing to the blockade by members of the Kurmi community in Jharkhand and Odisha, officials said.
The diamantaire's counsel said there is a vigilance manual circular that the consortium can lodge only one FIR. Each consortium member cannot lodge separate FIRs, he said.
As its backyard remains embroiled in tension, Gurugram is exercising caution.
The ED has filed a fresh chargesheet against absconding jeweller Mehul Choksi, his wife Priti and others under the anti-money laundering law in connection with the over Rs 13,000-crore PNB loan fraud case, officials said on Monday. This is the first prosecution complaint filed by the central agency against Choksi's wife Priti Pradyotkumar Kothari. She has been charged by the Enforcement Directorate (ED) with "helping her husband in layering of the proceeds of crime".
Prime Minister Modi gave President Biden the unique sandalwood box sourced from Mysore with intricately carved flora and fauna patterns and handcrafted by a master craftsman from Jaipur during an intimate dinner at the White House on Wednesday.
Let us contain this raging fire, this tsunami of hate, appeals Sonia Gandhi.
Dhanush and Aishwaryaa have decided to part ways after being married for 18 years.
The government had moved NCLT to freeze the assets of 19 people after CBI filed a charge sheet in Nirav Modi's case and Gitanjali Group cases.
All these companies were provided loans by PNB as part of consortium lending.
Given how everything has played out, Mehul Choksi, now 62, achieved all that he wanted but for all the wrong reasons, says Pavan Lall.
The railways observed a week of Azadi ki Rail Gadi, from July 18-23, through 27 trains and 75 railway stations, across 24 states that are linked to the Indian freedom struggle.
We asked you to share pics and stories of your furry companions. This is what our reader shared.
'I will miss you calling me and saying "I am Shashi Kapoor" even when you were at the height of your stardom.' Gitanjali Gurbaxani remembers a dear friend.
Gitanjali Gems and Firestar Diamonds together account for 5.8 per cent of the diamond and jewellery trade in India.
The Delhi high court on Friday dismissed a plea by Mehul Choksi, an accused in the nearly USD 2 billion PNB scam, to conduct pre-screening of Netflix documentary Bad Boy Billionaires.
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.
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 I-T department also attached 34 bank accounts and fixed deposits, valued at Rs 1.45 crore, of the Gitanjali group.
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