The committee of creditors to Gitanjali Gems, promoted by fugutive Mehul Choksi, has decided to liquidate the company to recover 12,558 crore it owes to 31 banks and financial institutions.
Choksi along with diamantaire Nirav Modi, are on the run since early last year after they misused credit facilities of banks and defaulted on loan repayment. Almost all the investigative agencies of the country are probing the multi-million scam perpetrated by Modi and Choksi together.
On Tuesday, Vijay Kumar Garg, the resolution professional of the company, informed the stock exchanges that the 180-day of Corporate Insolvency Resolution Process ended on April 6 and since the extension was not approved by the committee of creditors, the next logical s…
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