Antwerp firm´s bankruptcy may hit lending to other diamantaires
(WorldNews India)

Surat: For diamantaires in Surat and Mumbai, getting bank loans will get tougher now with yet another diamond company in Antwerp, owned by a Gujarati diamantaire, is inching closure to filing for bankruptcy after the Belgium court recently rejected its reorganization plan. Diamantaire Kaushik Mehta´s Eurostar Diamond Traders, owes an estimated Rs 3,500 crore ($500 million) to leading lenders including ABN Amro, Standard Chartered, KBC Bank, State Bank of India among many others. Sometime ago, the company had also lost its sightholder status with De Beers owing to its financial problems. Industry sources said that Eurostar owns...