Published
Apr 30, 2018
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Gitanjali group’s Odisha jewellery park scrapped by government

Published
Apr 30, 2018

The Odisha government has cancelled permissions to Gitanjali Group subsidiary Gitanjali Infratech Ltd for its Rs 636 crore (approx $99 million) jewellery and luxury goods park post its involvement in multi-crore PNB scam.
 

Gitanjali Group


The company had got the nod from the Odisha government to set up the park with an area of 100 acres of land at Ramdaspur near Cuttack. However, with the company involved in billion dollar scam the government has decided to cancel the above said land allotment to the firm.
 
"The company seems to be in trouble and there is no one with whom we can speak to. Under the circumstances, the project cannot take off. Therefore, the project is now shelved," Principal Secretary (Industries), Sanjeev Chopra, told news agency PTI.

Regarding land for the project, Chopra said, “Gitanjali group had earlier been allotted 30 acres of land at Ramdaspur near Cuttack for a manufacturing unit to be set up in the name of Gitanjali Gems. Subsequently, the company applied for a private industrial park on an additional 70 acres land. However, land for the proposed private industrial park was yet to be allotted. The trouble (scam) surfaced before the land could be allotted to Gitanjali Infratech and as of now the land allotment stands cancelled.”
 
Gitanjali Gems has defrauded 31 lenders totalling 6,000 crore rupees (approximately 902 million US dollars and also involved in the PNB scam, which also covers fraud from the Nirav Modi Group, totalling 12,300 crore rupees (approximately 1.9 billion US dollars).

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