03 Dec 2021
DiamondWorld Directory
-
Home |
News
Home
Winsome Diamonds' finance head resigns
Ramesh Parikh resigned ahead of a board meeting
By: Diamond World News Service
|
Mar 4 2014 5:01PM
|
Reference: 8907  

DecreaseIncrease
Ramesh Parikh, Finance Director of Winsome Diamonds and Jewellery Ltd resigned ahead of board meeting due to differences with the company’s promoter, Jatin Mehta, over negating auditor's call for a credible future action plan.

The jewellery manufacturer and exporter, which defaulted over Rs 6,200 crore, along with its sister company Forever Precious Jewellery & Diamonds Ltd had delayed the board meeting twice in the past due to the absence of the promoters' forward looking statement for restructuring the company.

Ever since the corporate debt restructuring (CDR) proposal was rejected mid-last year, the lenders led by Punjab National Bank, have been seeking a definite action plan from Jatin Mehta. Winsome was declared defaulter for Rs. 4,380 crore of adjusted limit.

In a clear violation of the regulator compliance, Winsome was supposed to file an audited financial statement for the year 2012-13 and inform Sebi and the stock exchanges on which it is listed. The company wanted an extension for six months, which was later granted by the regulator. But, the company missed the extended deadline on November 30, 2013, and will now have to file a statement for the 18 months ending September 2013 with the stock exchanges by March 31, 2014. However, Considering 21 days of notice period abiding by to Sebi guidelines and approx 10 days of printing and distribution of the result copy among shareholders, the deadline is unlikely to meet. Therefore, as the head of finance, Parikh had to step down, according to an official.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
Sort by: 
 Newest 
 | 
 | 
 | 
 Agree 
 | 
seenivasgam
(dubai)
when media knows winsome done fraud with banks. than why the are type article in their papers. india news anchor raise this matter thanafter no news on it.
*  Company:
 
*  Name:
 
*  Mobile:
 
*  Email:
 
 
Subscribe for DiamondWorld weekly Newsletter
 
Search News by City
Recent Issue
2021
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: 30160
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 6621
GJEPC Chairman Interview
Views: 26418
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 36324
Promo for IJ Awards 2012 at NDTV Profit
Views: 50270
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 63623
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 20386
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 48257
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 47414
Advertisement
GIA_2021
Advertisement
DW Whatsapp Sub sq
Member of:
Supporter of: