Gitanjali Gems to shut down, employees told to take relieving letters

Gitanjali Gems, the jewellery retailer led by Nirav Modi's uncle Mehul Choksi, asked its employees to take their relieving letters on Tuesday.

It is set to close down days after Punjab National Bank, India's second largest state lender, uncovered a fraud which allegedly involves at least three firms controlled by Modi, a billionaire jeweller, and others by Choksi (including Gitanjali Gems).