Delhi-based diamond exporter in loan soup

After Mehul Choksi and Nirav Modi, another diamond jewellery exporter booked for Rs 389-crore bank loan fraud

The CBI has registered a case against a Delhi-based diamond jewellery exporter for an alleged bank loan fraud to the tune of R389.85 crore towards Oriental Bank of Commerce.

The CBI has booked Dwarka Das Seth International Pvt Ltd for the alleged fraud.The agency booked the company, and Sabhya Seth, Reeta Seth, Krishna Kumar Singh, Ravi Singh — all directors of the firm — and another company named Dwarka Das Seth SEZ Incorporation. The company has availed various credit facilities from OBC between 2007-12, which swelled to Rs 389 crore during the period.

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