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Snil Varma, a former international business head of Mehul Choksi's Gitanjali Group, appeared before the court last week, almost seven years after the registration of the PNB fraud case. Following his appearance, the probe agency had sought his custody, which was rejected by special CBI court judge S M Menjoge.
Chitalia was produced before a special CBI court here in the afternoon after he was detained at the airport and questioned by the agency. Judge S R Tamboli remanded him in CBI custody till March 17.
Vipul Chitalia was detained by the agency at the Mumbai airport when he returned to India, they said, adding that he was questioned at the CBI office here before his arrest.
Chitalia was apprehended at Mumbai airport and brought to the Central Bureau of Investigation (CBI) office at the Bandra-Kurla Complex here for questioning, he said, but did not divulge any other details about Chitalia's alleged role in the PNB fraud.
The move will prevent the Gitanjali group companies from accessing the market.
Watch the interview of Mehul Choksi, CMD, Gitanjali Group with Manisha Gupta on CNBC-TV18, in which he shared his reading and outlook on gold.
India's passion for gold is putting such a strain on state finances that the government may slap higher import taxes on the precious metal, but demand buoyed by heady inflation and meagre savings will blunt the impact of any rise in duties.
Gitanjali Group today reported 15 per cent growth in net profit to Rs 151.65 crore for the second quarter ended September 30, driven by stable gold prices.
India's jewellery retailer Gitanjali Group is planning to invest up to USD 75 million (around Rs 414 crore) in increasing its number of outlets in the UAE to 110 within two years.
Hem Securities has come out with its report on Tribhovandas Bhimji Zaveri Ltd (TBZ)'s IPO issue. The research firm has recommended to avoid the issue.
Akshaya Tritiya known as of the most auspicious day in the Hindu calendar falls on 24th April this year which is the third day of the bright half of Vaishak (Sukla Paksha).
The Gems & Jewellery Sector is not only a major employment generator but also make a major contribution to India's export earnings. As per the White Paper issued by FICCI Gems & Jewellery Group – the total size of the Gems & Jewellery Sector (both Domestic & Exports) was about Rs 4,15,000 crores.
India is a market that has huge potential and it certainly cannot be ignored, Rotary Watches Chairman Robert Dreyfuss said. With the reach and brand recall Gitanjali has in India, we are confident of reaching out to this huge potential in India, which will only enhance the visibility and our brand reach further.
Gitanjali Group today said it is expecting to double sales during the 5-day India International Jewellery Show (IIJS) starting on August 4, amounting to Rs 800 crore.
The Gitanjali Group on Monday signed an agreement with Emonte for selling Italian luxury pen brand 'Visconti' through its retail jewellery stores across the country on an exclusive basis.
In a bid to expand its global footprint, jewellery manufacturer and retailer Gitanjali Group today said it has recently acquired five Italian brands and launched Giantti Italia Srl, the company''s Italian subsidiary with offices in Milan.
