Summary:
When Chetan defaulted on bank credit in Belgium, the diamond industry in India was in shock. It was then that the downfall of Gitanjali Gems and Digico group started,” an acquaintance of the Choksis said. SURAT: Gitanjali Gems chairman Mehul Choksi and billionaire Nirav Modi are not first in Choksi and Modi family to have swindled banks’ money worth several crores. Like his brother, Chetan owes several Indian banks and foreign branches over $200 million. The stores offer jewellery, gems, precious metals, watches and fashion goods.“Mehul and Chetan always wanted to become rich quickly and at any cost..