Surat: Even before world’s largest diamond mining company De Beers can decide on the fate of its sightholder Gitanjali Gems — owned by Mehul Choksi — another company from Surat is caught in a controversy.
Laxmi Diamond Private Limited, owned by Vasant Gajera and his brother Chuni Gajera, is in the spotlight following expose of land scam involving crores of rupees in the Diamond City. The diamond barons have been booked by Surat police in two different cases for allegedly forging documents to encroach upon the land that belonged to some other individuals. The duo has been booked under various sections of the Indian Penal Code, including wrongful restraint, criminal trespass, forgery, forgery of valuable security, forgery for cheating and using forged documents as genuine.
As per the client’s introduction by De Beers, Laxmi Diamond Private Limited’s business operations span the world of diamonds from rough to retail. Laxmi Diamond Private Limited is the flagship company of the group, which is headquartered in Mumbai and has customers in the United States, Europe, West Asia and Far East.
Main accused in the land scam Vasant Gajera is the driving force behind the group. He laid the foundation of Laxmi Diamond Private Limited in 1972. Since its inception, the company achieved rapid growth and in 1995 became a sightholder of the diamond trading company (DTC) of De Beers group. It is manufacturer and distributor of loose diamonds and jewellery globally.
In a query raised earlier with De Beers group, its spokesperson had stated that the company doesn’t comment publicly on the specifics of any individual business. However, the company requires compliance with strict criteria and doesn’t trade with any business group where it has some concerns.
Diamond industry analyst Aniruddha Lidbide said, “De Beers has an international reputation and clients are its face in the market. De Beers won’t tolerate if any client indulges in tarnishing the company’s image. However, only time will tell what action De Beers will take against these companies.”
