4.

Solitaire - - IN FOCUS -

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.”

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