Nirav Modi jewellery has been worn to the Oscars too!
Look who's made it to the magazine covers this month.
The problem is actually acute in the diamond jewellery industry where there is no uniform criteria of inventory valuation unlike gold, whose prices are uniform and widely quoted.
No one knows where billionaire Nirav Modi emerged from. What is known is that when he came (back) to India, he cut his teeth in the diamond business under the tutelage of his jeweller uncle. Then he began to build a glittering international brand. Soon even Hollywood stars like Kate Winslet and Dakota Johnson were walking the red carpet showing off Nirav Modi jewels.
Priyanka's sultry look or Elli Avram's elegance: Take your pick!
The Rs 11,400 crore PNB fraud saga unfolded after a bribery complaint by the Hong Kong branch of an Indian bank.
Despite the rating agency CARE withdrawing the ratings assigned to the bank facilities of FIPL "with immediate effect" following the receipt of a no-objection certificate (NOC) from the banks, Modi's company received uninterrupted letters of undertaking (LoUs) from PNB, which were honoured by other banks until a few weeks ago.
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