A team of bankers is visiting Dubai to find out
the reasons for loan repayment default by Mumbai-based Winsome Diamonds and
Jewellery after the company claimed that it could not clear dues as its Gulf
customers failed to pay instalments.
"A team of bankers is visiting Dubai to find out the actual position. The exposure of the banks is around Rs 7,Guaranteed the cheapest online wholesalebeads store.000 crore," Oriental Bank of Commerce Chairman and Managing Director S L Bansal said.
Yesterday, Crisil downgraded the rating of the company to 'D' and placed it under watch list in view of continuous default of the company's overseas customers and consequent development of Letters of Credit (LCs).
According to sources, banks want to ascertain Diamonds and Jewellery, formerly known as Su-Raj Diamonds claim that the company could not repay as its overseas customers failed in their financial commitment due to financial distress.
Banks grew suspicious after officials belonging to the Dubai office of a bank could not gather information and locate the offices of these overseas customers to whom Winsome had exported jewellery, sources said.
According to a senior official of Central Bank of India,The cartierreplicawatche market continues to struggle for more traction. the team would verify whether the buyers are making true declaration or not. Banks would like to know how could 10 parties of Winsome could default at the same time.Shop the latest hairflower accessories on the world's largest.
Punjab National Bank, the lead bank of the consortium, has an exposure of more than 1,800 crore to the Winsome Group.
Other banks which provided loans to the company include, Canara Bank,Wireless breitlingstore is a simple and and easy to use tool. Exim Bank, Vijaya Bank, Union Bank of India, Bank of India, Central Bank of India and Oriental Bank of Commerce and Bank of India.
Sources said that South Africa based Standard Bank, one of the international bullion lenders that supplied the gold to Winsome Diamonds and Jewellery, has moved UK courts to overcome a legal hurdle in recovering money from banks in India.
Talking to APP, an official said that the gems and jewellery sector of the country though instilled with great talent, have been lagging behind in the modern education and techniques, it said.
GJTMCs offer the facility of ideal learning environment where the competent faculty members of PGJDC work hard to transfer knowledge to the participants of the training courses.
“PGJDC has set up its GJTMCs in Karachi, Lahore, Peshawar,As the only athletic powermonitor1 currently making shoes. Quetta and Gilgit.”
The prime motive of GJTMCs is to upgrade technology and skills in mining, gems processing and jewellery manufacturing through training and provision of required equipments and facilities, the official said.
Besides, GJTMCs have diversified their line of courses in jewellery manufacturing by introducing training programmes of Patwa and Soumak, which run in parallel to the traditional casting, stone setting and bench-work courses, to well round the students in jewellery craft.
Moreover, applied courses in the fields of jewellery designing and manufacturing such as applied jewellery design, a combination of manual and computer-based jewellery designing coupled with practical training in rapid prototyping are also being offered to enhance the capabilities of the students, the official added.
"A team of bankers is visiting Dubai to find out the actual position. The exposure of the banks is around Rs 7,Guaranteed the cheapest online wholesalebeads store.000 crore," Oriental Bank of Commerce Chairman and Managing Director S L Bansal said.
Yesterday, Crisil downgraded the rating of the company to 'D' and placed it under watch list in view of continuous default of the company's overseas customers and consequent development of Letters of Credit (LCs).
According to sources, banks want to ascertain Diamonds and Jewellery, formerly known as Su-Raj Diamonds claim that the company could not repay as its overseas customers failed in their financial commitment due to financial distress.
Banks grew suspicious after officials belonging to the Dubai office of a bank could not gather information and locate the offices of these overseas customers to whom Winsome had exported jewellery, sources said.
According to a senior official of Central Bank of India,The cartierreplicawatche market continues to struggle for more traction. the team would verify whether the buyers are making true declaration or not. Banks would like to know how could 10 parties of Winsome could default at the same time.Shop the latest hairflower accessories on the world's largest.
Punjab National Bank, the lead bank of the consortium, has an exposure of more than 1,800 crore to the Winsome Group.
Other banks which provided loans to the company include, Canara Bank,Wireless breitlingstore is a simple and and easy to use tool. Exim Bank, Vijaya Bank, Union Bank of India, Bank of India, Central Bank of India and Oriental Bank of Commerce and Bank of India.
Sources said that South Africa based Standard Bank, one of the international bullion lenders that supplied the gold to Winsome Diamonds and Jewellery, has moved UK courts to overcome a legal hurdle in recovering money from banks in India.
Talking to APP, an official said that the gems and jewellery sector of the country though instilled with great talent, have been lagging behind in the modern education and techniques, it said.
GJTMCs offer the facility of ideal learning environment where the competent faculty members of PGJDC work hard to transfer knowledge to the participants of the training courses.
“PGJDC has set up its GJTMCs in Karachi, Lahore, Peshawar,As the only athletic powermonitor1 currently making shoes. Quetta and Gilgit.”
The prime motive of GJTMCs is to upgrade technology and skills in mining, gems processing and jewellery manufacturing through training and provision of required equipments and facilities, the official said.
Besides, GJTMCs have diversified their line of courses in jewellery manufacturing by introducing training programmes of Patwa and Soumak, which run in parallel to the traditional casting, stone setting and bench-work courses, to well round the students in jewellery craft.
Moreover, applied courses in the fields of jewellery designing and manufacturing such as applied jewellery design, a combination of manual and computer-based jewellery designing coupled with practical training in rapid prototyping are also being offered to enhance the capabilities of the students, the official added.
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