Page 22 - Bullion World Volume 03 Issue 5 may 2023

Bullion World | Volume 3 | Issue 5 | May 2023

RJC Membership - A Jewel in the Crown

of M.D. Overseas

Mr Amit Mittal, GM-Trade & Finance
Mr Manish Rawat, Plant Manager

M D Overseas Pvt. Ltd., became a member of the Responsible Jewellery Council (RJC) towards the end of
March 2023. We met up with the senior management team at M D Overseas to find out the motives behind
this initiative with Mr. Amit Mittal, GM-Trade & Finance and Mr. Manish Rawat, Plant Manager
at M.D. Overseas Pvt Ltd. Read on.

Bullion World (BW):
Congratulations to M D Overseas
on becoming an RJC member.
M.D. Overseas is accredited
by the BIS and the NABL. What
prompted your organization to
go for RJC membership?
BIS accreditation and NABL
certification are mandatory for
all licensed bullion refiners. BIS
certification deals with the
production and manufacturing
process and is essentially a product
certification. NABL certification
is a product-specific audit and it Mr Amit Mittal Mr Manish Rawat
considers only refining and testing.
refinery and assay-center level process involves the verification of

In addition to the above, commodity only. However, RJC demands documents to ascertain the extent
derivatives exchanges such as MCX, documentation of processes along of compliance as well as point out
NSE, and BSE insist on third-party the entire supply chain. Hence, deviations.
audits of refiners within one year of it took some time for us to define Under the RJC system, we can
granting India Good Delivery status. the process and get the required choose an auditor from a set of
We can get this audit done either documentation in order. auditors. We chose ISOQR as our
with Responsible Jewellery Council auditor. We are happy to inform you
(RJC) or with Responsible Minerals What was the process involving that we got the audit completed the
Initiative (RMI). The scope of RJC the audit and how long did it take first time itself.
and RMI is much larger and includes to become an RJC member?
the entire supply chain. We chose The scope of RJC includes the The benefits and philosophy
RJC as it relates more to the Indian entire supply chain- that is from behind this partnership between
context. where gold is sourced, who is the MD Overseas Pvt. Ltd. and RJC.
supplier, how is the dore refined, how The philosophy of the Responsible
What were some of the refined bullion bars are sold, working Jewellery Council (RJC) is to
difficulties faced during RJC conditions at the plant, regulatory promote responsible business
accreditation? compliance, and so on. RJC lets practices in the precious metals viz.
Prior to RJC, most of the you define each of these processes, gold and gold jewellery industry. The
documentation requirements of document the procedures, and RJC recognizes that the precious
BIS/NABL were confined to the maintain records. These are the metals viz. gold and gold jewellery
main sources of audit. The audit industry have a significant impact

22