Indian Diamantaires Go Bust In Hong Kong

The Hong Kong diamond industry is hit by the bankruptcy news again with Hong Kong’s special administrative region court making bankruptcy order public through an advertisement, says a news report.

These four Gujarati diamond traders are reportedly from the same company known as Aarohi Diamonds (HK) Limited, a sister concern of India's Classic Diamonds India Limited, a former DTC sightholder company. The defaulters whose names have been published in the bankruptcy orders are — Nirav Kumar Bhansali, Nirav Atulkumar Shah, Rakesh Manilal Barot and Devang Hasmukhlal Shah—all owners and working partners and office-bearers of the defunct diamond company in Hong Kong.

“Such happenings will certainly have an effect on the entire business sentiment in India as well as Hong Kong”, feels a diamantaire from HK who did not wish to be named. However, he further added, “Nothing will happen as the time passes everything will settle down and whatever is clear will come to the surface and will sail across the frontiers of business. Anyway it's business so it has to run. But who is in right track, on a right direction with a right speed have no need to worry. Only need to keep faith and wait good time coming ahead. So, I hope better for the future as I am an optimistic person.”