19 Nov 2019
DiamondWorld Directory
Home |
News
Home
Hong Kong firm defaults on Rs 350 crore to diamantaires in Surat and Mumbai
Indian diamantaires have begun to make frantic inquiries after trade alerts about their clients' poor financial condition on social media
By: Diamond World News Service
|
Oct 10 2015 5:40PM
|
Reference: 12049  

DecreaseIncrease
Bankruptcy
Bankruptcy

There is a hue and cry in the market as diamond jewellery firm in Hong Kong and Bangkok has gone bankrupt and defaulted on payment to the tune of Rs 350 crore to diamantaires in Surat and Mumbai. Indian diamantaires from Surat and Mumbai, who supply polished diamonds to their buyers in Hong Kong and Bangkok have begun to make frantic inquiries after trade alerts and seeing messages about their clients' poor financial condition on social media.

Industry sources in Hong Kong said polished diamond traders could face huge losses due to the Hong Kong-based diamond jewellery company going bust.

It may be recalled that India exports $28 billion worth of polished diamonds every year out of which nearly $9.5 billion goes to Hong Kong.

As Gems and Jewellery Exports Promotion Council (GJEPC) regional chairman Dinesh Navadia, told media, "We are gathering details from Hong Kong and Bangkok about reports that a diamond jewellery company has become bankrupt. It is bad news for diamond exporters from Surat and Mumbai."

Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
Advertisement
HouseAd_Trade Fair
Search News by City
Advertisement
HouseAd_Trade Fair
Recent Issue
2019
AVAILABLE NOW...!
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 21776
GJEPC Chairman Interview
Views: 19766
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 26853
Promo for IJ Awards 2012 at NDTV Profit
Views: 39938
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 43593
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 16876
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 41623
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 39332
Advertisement
Finestar Diamonds
Advertisement
Mohra India
Member of:
Supporter of: