Gitanjali Group was one of the largest branded jewellery retailers in the world. It was headquartered in

Mumbai, India Mumbai ( ; ), also known as Bombay ( ; its official name until 1995), is the capital city of the Indian States and union territories of India, state of Maharashtra. Mumbai is the financial centre, financial capital and the list of cities i ...

. Gitanjali used to sell its jewellery through over 4,000 Points of Sale and held a market share of over 50 per cent of the overall organised jewellery market in India. Prominent brands housed by the group included

Nakshatra Nakshatra () is the term for Lunar mansion in Hindu astrology and Buddhist astrology. A nakshatra is one of 27 (sometimes also 28) sectors along the ecliptic. Their names are related to a prominent star or asterisms in or near the respective s ...

, D'damas, Gili, Asmi, Sangini, Maya, Giantti, World of Solitaire and Shuddhi. It was closed following Punjab National Bank Fraud more commonly known as Nirav Modi Fraud.

Listing

The company was listed on

Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange based in Mumbai. It is the 6th largest stock exchange in the world by total market capitalization, exceeding $5 trillion in May 2024. Established with t ...

with script code 532715,

National Stock Exchange of India National Stock Exchange of India Limited, also known as the National Stock Exchange (NSE), is an Indian stock exchange based in Mumbai. It is the List of stock exchanges, 5th largest stock exchange in the world by total market capitalization, ...

script name Gitanjali

2018 investigation

Mehul Choksi, the founder and managing director of ‘Gitanjali Gems’ and the maternal uncle of

Nirav Modi Nirav Deepak Modi (born 27 February 1971) is an Indian-born Belgian fugitive who was charged by Interpol and the Government of India for criminal conspiracy, criminal breach of trust, cheating and dishonesty including delivery of property, corr ...

has come under the radar of various investigating agencies, following the Enforcement Directorate (ED) filing a case against the latter for conducting fraudulent transactions from the

Punjab National Bank Punjab National Bank alias PNB is an Public sector banks in India, Indian government bank based in New Delhi. It was founded in May 1894 and is the List of banks in India, second-largest public sector bank in India in terms of its business volum ...

. This case is claimed to be India's biggest bank fraud wiping out 14,000 crore rupees. Mehul Choksi fled India along with his nephew after the F.I.R was filed about the bank scam.

References

Companies based in Mumbai Jewellery retailers of India Retail companies established in 1966 Indian jewellery designers Conglomerate companies of India 1966 establishments in Maharashtra Companies formerly listed on the National Stock Exchange of India Companies formerly listed on the Bombay Stock Exchange {{retail-company-stub

Listing

2018 investigation

See also

References