LESSONS FROM THE WINSOME CASE: EARLY WARNINGS FOR THE GEMS AND JEWELLERY SECTOR

We understand that banks are seriously contemplating action against Company, Mr. Jatin Mehta and present directors (other than Nominee director) for suspected fraud and diversion of funds. The Board takes this opportunity to assure members that the company and directors have acted bona fide, in good faith … that if they have been found wanting, it is only because of their inexperience to deal with the complexities and enormity of the crisis