Gitanjali Group


Gitanjali Group was one of the largest branded jewellery retailers in the world. It was headquartered in Mumbai, India. Gitanjali used to sell its jewellery through over 4,000 Points of Sale and enjoys a market share of over 50 per cent of the overall organised jewellery market in India. Prominent brands housed by the group included Nakshatra, D'damas, Gili, Asmi, Sangini, Maya, Giantti, World of Solitaire and Shuddhi. It was closed following Punjab National Bank Fraud.

Listing

The company was listed on Bombay Stock Exchange with script code 532715, National Stock Exchange of India script name Gitanjali

2018 Investigation

Further information: Punjab National Bank Fraud Case, 2018
Mehul Choksi, the founder and managing director of ‘Gitanjali Gems’ and the maternal uncle of Nirav Modi has come under the radar of various investigating agencies, following the Enforcement Directorate filing a case against the latter for conducting fraudulent transactions from the Punjab National Bank. This case is claimed to be India's biggest bank fraud. Mehul Choksi fled India along with his nephew after the F.I.R was filed about the bank scam.