Parag Diamonds wins auction of Nirav Modi's US firm A Jaffe
New York-based Parag Diamonds has emerged as the winning bidder in the bankruptcy auction of one of Nirav Modi's companies, A Jaffe Inc. Parag Diamonds, also known as Paramount Gems, is headed by Indian-American businessman Panna Jain. Two other companies of Nirav Modi, Firestar Diamond Inc and Fantasy Inc, are due to face the auction.