BUSINESS PRINCIPLES DOCUMENT
Legislation and Regulations
RAMKRISHNA DIAMOND PRIVATE LIMITED shall operate in compliance with relevant national and
international legislations / regulations as applicable in the countries in which they operate.
All employees are expected and directed to comply with all applicable laws and regulations as
well as will have to follow the rules and regulation formed by RAMKRISHNA DIAMOND PRIVATE
LIMITED regarding its business policies
Compliance team maintains the list of applicable legal and regulatory requirements and same is
followed for compliance on day to day basis. Necessary records of requirements and its compliance
Money Laundering, Terrorism Financing, Other Financial Offences
RAMKRISHNA DIAMOND PRIVATE LIMITED recognizes the fact that entities in the gems and jewellery
sector have to take on the onus of analysing their potential vulnerabilities to money laundering
and implement specific steps that are required for protection against abuse by criminals.
Strict compliance is required at all times, with all applicable national and, where
appropriate, international laws / regulations with respect to money laundering, terrorism
financing, bribery, facilitation payments, corruption, smuggling, embezzlement, fraud,
racketeering, transfer pricing and tax evasion.
RAMKRISHNA DIAMOND PRIVATE LIMITED shall act in accordance with national laws with respect to
auditing of its financial accounts and maintaining internal controls as guided by various
regulations. Following acts and international guidelines is considered while establishing policies
of the RAMKRISHNA DIAMOND PRIVATE LIMITED.
Prevention of Money laundering Act 2002
FATF 40 Recommendations and 8 special recommendations
It is the responsibility of concerned personnel to know and understand the relevant money
laundering / financial offences related legal, regulatory and internal requirements as they apply
to their jobs. Ignoring or not reporting suspicious activity that appears to be questionable may
also be considered as a violation of the Business Principles, depending on the seriousness of the
Compliance officer ensure all the critical steps such as KYC & KYS, Identification of
suspicious transaction, reporting to management and record keeping as required by the local act
and legislations are complied with.
Compliance officer caries out periodic review of AML/CFT compliances and submits his report to
management on Quarterly basis.
Kimberley Process and System of Warranties
RAMKRISHNA DIAMOND PRIVATE LIMITED is fully committed to complying with all the requirements
specified in the Kimberley Process Certification Scheme and World Diamond Council’s (WDC) System
of Warranties Declaration.
We will not engaged in business with the supply chain who deals in ‘conflict diamonds’ or not
following the System of Warranties Declaration in invoices, either knowingly or unknowingly, will
be considered as a violation of the Business Principles.
Anti-Bribery and Facilitation Payment Policy:
The RAMKRISHNA DIAMOND PRIVATE LIMITED shall ensure complete prohibition of Bribery and
facilitation payment across organization and in all the entities.
RAMKRISHNA DIAMOND PRIVATE LIMITED will not offer, accept or countenance any payment, gift in
kind, hospitality, expense or promises as such that may compromise promises of fair competition.
Entity shall prohibit bribery and facilitation payment and shall comply with various rules and
regulations of the land.
Disclosure of Treated Diamonds, Synthetics and Simulant
The following essential principles will be applicable in all the transactions involving treated
diamonds, synthetics and stimulant
Full disclosure i.e. the complete and total release of all available information about a Diamond
and all material steps it has undergone prior to sale to the purchaser, irrespective of whether or
not the information is specifically requested and regardless of the effect on the value of the
We deal in real and natural diamonds only and any treatment of real and natural diamonds is
disclosed to customer prior to sales
Metal Sourcing Policy:
Conflict Minerals Policy Statement (Diamond & Gem Stone)
RAMKRISHNA DIAMOND PRIVATE LIMITED is committed to being a responsible corporate citizen and
is opposed to human rights abuses. As part of that commitment, RAMKRISHNA DIAMOND PRIVATE
LIMITED seeks to source products, components and materials from companies that share our
values around human rights, ethics and environmental responsibility.
RAMKRISHNA DIAMOND PRIVATE LIMITED shall strive to ensure that all its supply of diamonds are
not originating from CAHRA’s and where practically possible origin of diamonds is know to us.
What Are "Conflict Diamonds"?
Known as "Conflict Diamonds," are stones that are produced in areas controlled by rebel
that are opposed to internationally recognized governments. The rebels sell these diamonds,
and the money is used to purchase arms or to fund their military actions.
Blood Diamonds are often produced through the forced labor of men, women and children. They
are also stolen during shipment or seized by attacking the mining operations of legitimate
producers. These attacks can be on the scale of a large military operation.
The stones are then smuggled into the international diamond trade and sold as legitimate gems. These
diamonds are often the main source of funding for the rebels; however, arms merchants, smugglers,
and dishonest diamond traders enable their actions. Enormous amounts of money are at stake, and
bribes, threats, torture, and murder are modes of operation. This is why the term "blood diamonds"
Angola,Coast, Democratic Republic of the Congo,Liberia, Sierra Leone, Republic of the Congo
Zimbabwe Marange Diamond Fields
RAMKRISHNA DIAMOND PRIVATE LIMITED shall ensure that none of its supplies are coming from
sources. Sight Holder shall communicate its sourcing policy to all the stakeholders and will
ensure effective implementation among them.
Supply Chain Management / Best Endeavours
The management of RAMKRISHNA DIAMOND PRIVATE LIMITED is committed to take appropriate action to use
best endeavours to ensure that the suppliers and contractors are committed for compliance to
International Social Standards.
Annual communications are exchanged with all the supply chain to spread awareness.
Compliance is required at all times, with applicable national and, where appropriate,
international laws / regulations with respect to employment and labour.
The RAMKRISHNA DIAMOND PRIVATE LIMITED shall not require Staff to
The RAMKRISHNA DIAMOND PRIVATE LIMITED shall ensure that wages and benefits for a standard working
week shall meet at least national minimum standards and shall be sufficient to meet the basic
needs of Staff and provide some discretionary income.
Health and Safety
RAMKRISHNA DIAMOND PRIVATE LIMITED recognizes the need to develop a sustainable, value creating
business and is committed to the following:
Any adverse impact of our business processes on those who carry it out shall be identified and
eliminated. Towards this end, we will systematically review our operations to identify sources of
health and safety related risks.
This review will use appropriate standards as required by prevailing laws, expert opinion and our
knowledge of best practices.
The review will lead to formulation of clearly described work practices and drills.
All our staff will be trained in the manner required to adhere to these work practices and drills.
The health of our staff, exposed to certain hazardous processes, will be monitored periodically
through appropriate medical checks, and reviewed using expert inputs for improvements.
All workplaces will be constructed to meet safety standards with local regulations as the
minimum standards that will be applicable
Non Discrimination, Disciplinary Practices
Discrimination can mean distinction, exclusion or preference.
Any form of discrimination relating to the hiring, discharge, pay, promotion and training of
employees on the basis of race, caste, national origin, religion, age, disability, gender, marital
status, sexual orientation, HIV status, Migrant status, membership of worker representative
bodies, political affiliations, or any criteria that are unlawful is strongly discouraged by the
RAMKRISHNA DIAMOND PRIVATE LIMITED and any such reported incidents will be viewed as a serious
violation of this Business Principles.
We will ensure that employees who have certain life threatening diseases or illnesses are not
treated differently from other employees, and will continue to employ such personnel, as long as
they are physically and mentally fit to attend to their normal job responsibilities.
We shall at no time condone the use of corporal punishment or other forms of mental or physical
We encourages all personnel to voice concerns promptly, if they have a genuine reason to
believe that a policy, RAMKRISHNA DIAMOND PRIVATE LIMITED operation or practice is or will likely
be in violation of any law, regulation or internal RAMKRISHNA DIAMOND PRIVATE LIMITED rule or
policy, including this Business Principles. RAMKRISHNA DIAMOND PRIVATE LIMITED assures all
employees who come forward in good faith to report issues, that they will be treated fairly and
No form of child labour should be employed at any of the facilities of the RAMKRISHNA DIAMOND
PRIVATE LIMITED Unless local laws stipulate a higher age, the minimum age for employment that will
be applicable is fifteen (As per ILO Convention No. 138).
For authorized adolescents (persons below 18 years of age but above 15 years), the RAMKRISHNA
DIAMOND PRIVATE LIMITED management is responsible for providing working conditions, hours of work
and wages in compliance with applicable local laws as a minimum.
As per our RAMKRISHNA DIAMOND PRIVATE LIMITED policy no child labour or adolence child labour will
RAMKRISHNA DIAMOND PRIVATE LIMITED will implement suitable policy and procedures to verify the
age proof all new employees joining the organization.
The management of RAMKRISHNA DIAMOND PRIVATE LIMITED is fully committed to ensuring that forced
or involuntary labour is not practiced in any form at any of its facilities. Any reported
incidents relating to forced labour will be considered as a serious violation of this Business
The following definitions will be applicable:
The Universal Declaration of Human Rights that states that ‘No one shall be held in slavery or
ILO Convention 29, which defines forced or compulsory labour as ‘all work or service which
is extracted from any person under the menace of any penalty, and for which they said person
has not offered himself voluntarily”
All employees in the RAMKRISHNA DIAMOND PRIVATE LIMITED’ facilities will be treated with equality,
respect and dignity.
RAMKRISHNA DIAMOND PRIVATE LIMITED will not interfere in the right of employees to observe tenets
or practices based on caste, race, national origin, gender, religion, disability, union
membership, or political affiliation
The RAMKRISHNA DIAMOND PRIVATE LIMITED strongly discourages any form of sexually coercive,
threatening, abusive or exploitative behavior.
Any reported incidents relating to direct or indirect physical, sexual, racial, religious,
psychological, verbal, or any other form of harassment or abuse, or any other form of intimidation
or degrading treatment will not be tolerated by the RAMKRISHNA DIAMOND PRIVATE LIMITED.
HSE & Anti sexual harassment committees are formed and committee shall review the compliance at
regular intervals by holding review meetings.
RAMKRISHNA DIAMOND PRIVATE LIMITED is committed to effective environmental management as one of its
important corporate priorities, and will focus on the following initiatives:
Compliance with all applicable environmental laws and regulations
The impact of each of our operations on the environment will be systematically assessed for
compliance with appropriately defined standards and reviewed periodically to mitigate or eliminate
Disposal procedures for waste generated will be clearly defined and practiced in line with
standards that are set by law and best practices of the industry.
Improvement of employee environmental awareness and performance through detailed policies and
procedures, training, and recognition of excellence.
RAMKRISHNA DIAMOND PRIVATE LIMITED is committed to provide safety of product throughout its supply
chain by following precaution as mentioned below
Each and every stage of product processing it is covered through blanket insurance
Suitable safe guarding and storage is ensured at all stage with the help of safes
We are taking at most care to ensure safety of visitors, Customers and interested parties,
suitable arrangements such as CCTV, Multi-level entry doors and other electronic intelligence.
All the concern persons are trained on relevant safety and security procedures to be followed at
Public Grievances against social & Ethical compliance of the RAMKRISHNA DIAMOND PRIVATE
If you come across any instance of non-compliance or specific deviation from our ethical policy ,
please feel free to reach us.
Further in case if you are interested to obtain the copy of our sourcing annual compliance report
based on OECD guidelines. Please send an email communication to below mentioned email address.