20 Sep 2019
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Winsome Diamonds Refutes Charges of any Covert Operations or Siphoning
Winsome refutes all allegations
By: Diamond World News Service
Oct 12 2017 3:54PM
Reference: 15366  

Jatin Mehta, Promoter
Jatin Mehta, Promoter
Last month, after three years of investigation, the CBI booked six cases against Winsome Diamonds and related companies. In light of what has happened, Harshad Udani, Director, Winsome Diamonds, tells Diamond World what is fact and what is fiction and clears the air about Jatin Mehta’s whereabouts.

There has been a lot of conjecture about Winsome Diamonds since the investigation of the company began three years ago. The company and its promoter Mr. Jatin Mehta has been brought to spotlight by the media, branding him as one of the country’s biggest defaulters. In 2011,

Followed by this, Times Now has removed the videos and informed that “ they kept the video in abeyance from their website www.timesnow.tv”

the company was granted over Rs 3000 crores by 14 banks. In 2012, Jatin Mehta resigned from the company and held Winsome’s UAE customers responsible for the company’s inability to repay the loans. In his claim, he said that the UAE Jewellers were unable to repay the loan.

In 2014, the banks approached the CBI. The CBI along with the Economic Offence Wing of Mumbai raided Winsome’s offices. Three years later, the CBI has booked six cases against the company. A lot of allegations have been made against the company by the media. In fact, in a recent letter to its Board of Directors, Mr. Mehta has said that these allegations are untrue and that the media has led this campaign against the company in collaboration with a few eminent personalities in the diamond industry. These personalities were unavailable to give a comment on the said allegation.

In your recent letter to the BSE, you have mentioned the Minutes of Lenders Consortium meeting that took place in September 2013 and how it discredited the Kroll Report. Based on what did it discredit it?

This meeting was attended by all the banks. Ms. Reshmi Khurana of KROLL informed that it has not audited any books of accounts of any establishment nor does it have access to any. She said that the report is based on market intelligence after conducting interviews with various personalities in which case no documentary evidence is possible. She further informed that modalities of our investigation were exchanged with the officials of SCB the Lead Bank of Winsome Diamonds & Jewellery Ltd.

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