CCEA approves winding up of Hindustan Diamond Company Private Limited

Posted on:22 Sep 2016 18:24:32

CCEA approves winding up of Hindustan Diamond Company Private Limited
22 September 2016 Current Affairs: The Cabinet Committee on Economic Affairs (CCEA) has given its approval for initiating the process of winding up of Hindustan Diamond Company Private Limited (HDCPL). 

The winding up of HDCPL will not affect supply of rough diamonds to Indian diamantaires as Indian diamond industry has grown in these years.

 Besides, the HDCPL had become inconsistent with changing times to facilitate the constant supply of rough diamonds and to make India an International Diamond Trading Hub.

Hindustan Diamond Company Private Limited (HDCPL) :  HDCPL was a 50:50 joint venture of the Central Government and De Beers Centenary Mauritius Limited (DBCML).

 It was incorporated under the Companies Act, 1956 in 1978 to supply rough diamonds to diamond processing industry in India. Its objective was to supply rough diamonds particularly to small and medium diamond jewellery exporters, who had no direct access to rough diamonds from Diamond Trading Company (DTC), London.


Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs July 2017

24 JULY
NEWS
22 JULY
NEWS
21 JULY
NEWS
20 JULY
NEWS

Current Affairs June 2017

30 JUNE
NEWS
29 JUNE
NEWS
28 JUNE
NEWS
27 JUNE
NEWS

Current Affairs May 2017

31 MAY
NEWS
30 MAY
NEWS
29 MAY
NEWS
27 MAY
NEWS