Two Indian Companies in Financial Problem

Mumbai: The Mumbai and Antwerp diamond sectors are reportedly on tenterhooks after two leading Indian companies announced financial problems.

Manufacturer and exporter Ankur Diamonds has filed for bankruptcy in a Belgian court after the owners were unable to repay bank loans last week, according to The Times of India.

Meanwhile, Interjewels Pvt Ltd owes substantial amounts to banks and private lenders, according to the Mumbai Mirror, though owner Hemal Choksi told the newspaper that Interjewels is “in fine fettle.”

Bank officials told Mumbai Mirror that a consortium had decided to stop extending credit to Interjewels.