Over-leveraging is good, said no one ever
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Saturday,February 27 2021 [ Issue 5 February/ 2021 ]
Over-leveraging is good, said no one ever
After exactly three years of the Nirav Modi saga, looks like the diamond merchant will finally pay his dues. Earlier this week, the UK court ruled that he could be extradited to India.

He along with his uncle Mehul Choksi are accused of defrauding PNB amounting to Rs 13,600 crore through fraudulent Letters of Undertaking (LoUs). This incident has left a permanent stain in the Indian diamond industry.

Banks have become stricter with the diamond industry and the paper work and collaterals that diamantaires have to provide is simply unimaginable. The moral the Nirav Modi case has taught us is very simple - don’t over-leverage. Conduct business with what you have and don’t take debts that you cannot repay.

Look around you, those who have been conservative when it comes to taking loans have sailed through these tough times better!

Highlights
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