GJEPC has taken the lead in driving more sophisticated, rapid and scalable technology to assist players in segregation of diamonds. To this end, a centralised testing laboratory has already been set up within the Bharat Diamond Bourse (BDB) premises which can be
What disciplinary action is the Council taking against guilty parties?
GJEPC has set up the Natural Diamond Monitoring Committee (NDMC) whose primary purpose is to monitor the undisclosed mixing of synthetic diamonds and to carry out such investigations and take decisions as may be necessary so as to ensure that all transactions and trade are carried out as per the Memorandum & Articles of Association of the Defendant and the rules thereunder. NDMC consists of representatives from the GJEPC, BDB, All India Gems & Jewellery Trade Federation (GJF), Gemological Institute of America (GIA) and other trade bodies in the gems and jewellery sector. Any action on the part of the GJEPC and BDB pertaining to any investigation or inquiry with regard to the trade of synthetic diamonds is under the aegis of NDMC. It is also commonly referred to as the Grievance Redressal Committee. In furtherance of the same, NDMC has entered into an understanding with prominent laboratories. NDMC accordingly collects data from such laboratories with respect to information as to whether such laboratories have, while conducting tests, detected or come across synthetic diamonds being passed off as natural diamonds without disclosures. Such information is provided by laboratories to NDMC on a monthly basis. The Grievance Redressal Committee follows a democratic approach and hears all parties involved in undisclosed mixing case before coming to a conclusion. The committee has heard a lot of cases and found substance on three occasions whereby the party was held guilty of mixing. The complaint was then forwarded to BDB which took appropriate action as per its rules by banning the individual from the bourse. One of the banned parties had even sued BDB for wrongful barring of its NDMC collects data from laboratories with respect to information as to whether such laboratories have, while conducting tests, detected or come across synthetic diamonds being passed off as natural diamonds without disclosures.”