Jatin Mehta's close associate held by CBI

The CBI on Monday arrested Hasmukh Shah, an ex-director and authorised signatory of Forever Precious Jewellery and diamonds Ltd, also known as Winsome Diamonds group, which has reportedly defaulted on loans worth thousands of crore, officials said.

It was alleged that Shah was the man Friday of Jatin Mehta, an absconding accused in the case, who is believed to have escaped to Saint Kitts in the Caribbeans. Shah was allegedly orchestrating the export-import operations of the company, officials said. He was also liaisoning with the banks, they said.

"The arrested accused will be produced tomorrow (Tuesday) before the special judge, CBI cases, Mumbai," CBI spokesperson Abhishek Dayal said.  

The agency had registered multiple cases against the company last year.