NewsVoir
Mumbai (Maharashtra) [India] May 10: Malabar Gold and Diamonds, the world’s 6th largest jewellery group and ranked 19th in Deloitte’s Global Ranking of Luxury Products, receives the country’s prestigious 13th Annual Legal Era-Indian Legal Awards in the legal category. The company has been bestowed with the coveted ‘Compliance and Risk Management Team of the Year 2023-24’ award, underscoring its commitment to legal excellence and ethical business practices.
In a competitive landscape featuring prominent corporate entities, Malabar Gold and Diamonds stood out among esteemed peers including Aditya Birla Group, Hindustan Unilever Limited, Hyundai Motors India Limited, ITC Limited, Maruti Suzuki India Limited, Tata Chemicals, Tata Steel Limited, LTI Mind Tree, and others. The recognition highlights the company’s exemplary performance in the realm of compliance and risk management, a testament to its dedication to upholding the highest standards of corporate governance.
The award selection process, overseen by a distinguished panel comprising legal luminaries such as former Chief Justice of India Dipak Misra, former Supreme Court Judges Justice BN Srikrishna, Justice Arjan Sikri, and Justice Deepak Verma, affirmed Malabar Gold and Diamonds’ exceptional contributions to the legal domain.
The award was presented at a ceremony held at Hotel Taj Palace, New Delhi, attended by luminaries including Former Chief Justice of India Dipak Misra, Delhi High Court Chief Justice Manmohan, and Delhi High Court Judge Justice Pratibha Singh. Representing Malabar Gold and Diamonds, Vice Chairman KP Abdul Salam, Legal and Corporate Affairs Group Head Rajeev Nair, and Practicing Company Secretary C Ashiq accepted the accolade.
The leadership activities being carried out at the company secretary level and the meticulousness in legal compliance matters have led the company to be eligible for this award. Ethical business practices, transparent and professional fund management, and business plans based on ESG principles have qualified the company to win the award in the Compliances and Risk Management Team category, alongside other large corporates in the country.
On receiving the recognition, MP Ahammed, Chairman of Malabar Group, expressed, “We are very happy and proud to be honored with this prestigious award. The excellent work being done under the leadership of the Company Secretary is commendable. Our mission, ‘Make in India, Market to the World,’ underscores our dedication to contributing to the nation’s prosperity by generating employment opportunities and adhering to stringent compliance standards.”
Malabar Gold and Diamonds operates on a global scale, ensuring adherence to all regulatory requirements and fostering transparent relationships with business entities, financial institutions, and government regulators. As a responsible jeweller, the company exclusively sources gold from legitimate and responsible mines, adhering to the highest ethical standards. By strictly adhering to local laws and tax regulations in every jurisdiction it operates in, Malabar Gold and Diamonds remains committed to contributing to the socio-economic development of the countries it serves.
Malabar Gold & Diamonds is the flagship company of Malabar Group, a leading diversified Indian business conglomerate. Established in 1993 in Kerala, Malabar Gold & Diamonds today has a strong retail network of over 350 stores spread across 13 countries and 14 wholesale units, in addition to offices, design centres, and factories across India, Australia, Canada, U.K., USA, the Middle East, and the Far East. With an annual turnover of $5.2 billion, the company currently ranks 6th among the largest jewellery retailers globally.
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