ANNUAL BUSINESS RESPONSIBILITY & OECD
COMPLIANCE REPORT FOR THE YEAR 2023-24
Section A: General Information about the Company :
Chandra Jewels incorporated on 1st February, 2022 and manufactures and exports of diamond studded Jewellery.
Chandra Jewels has earned the reputation of being an extremely trusted name in the jewllery industry, and is known
for providing quality jewellery par excellence.
It has always been our endeavour to run a transparent ethical business rooted in traditional as well as modern values and to maximise customer satisfaction for our customers.
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At CHANDRA, we celebrate the art and science of fine jewellery. Our focus is on delivering superior value to our customers along with efficient service.
It has always been our endeavour to run a transparent ethical business rooted in traditional as well as modern values and to maximise customer satisfaction for our customers.
Experience our new age, end to end manufacturing and marketing solutions. Bridal. Fashion. Hip Hop.
Our customized digital and print marketing services focus on today’s ever evolving customer.
At CHANDRA, we celebrate the art and science of fine jewellery. Our focus is on delivering superior value to our customers along with efficient service.
Section B: Financial compliance of the CHANDRA JEWELS PVT. LTD :
2.1 Money Laundering, Terrorism Financing, Other Financial Offences
Current Status
• CHANDRA JEWELS PVT. LTD. 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 ensured at all the entities and compliance officer has been appointed who in turn reports to CHANDRA JEWELS PVT. LTD. Management on compliance status on annual basis.
• Know Your Counter Party and other compliance of Due Diligence is followed in line with OECD guidance.
• Ongoing monitoring is carried out along with all stakeholders.
• Strict compliance is ensured at all the entities and compliance officer has been appointed who in turn reports to CHANDRA JEWELS PVT. LTD. Management on compliance status on annual basis.
• Know Your Counter Party and other compliance of Due Diligence is followed in line with OECD guidance.
• Ongoing monitoring is carried out along with all stakeholders.
Area of concern & Remedial Measures
• Nil As on Date
2.3 Anti-Bribery and Facilitation Payment Policy:
• The CHANDRA JEWELS PVT. LTD. shall ensure complete prohibition Bribery and facilitation payment across organization and in all the entities.
• CHANDRA JEWELS PVT. LTD. has published compliance team contact details on website to receive any grievance or complaints.
• CHANDRA JEWELS PVT. LTD. has published compliance team contact details on website to receive any grievance or complaints.
Area of concern & Remedial Measures
• Nil As on Date
2.4 Ethical Sourcing of Loose Diamonds Policy:
• Our company is concerned about the environment and social impacts of irresponsible mining.
• CHANDRA JEWELS PVT. LTD. has identified the risk of supply chain with respect to Conflict Affected High Risk Area.
• CHANDRA JEWELS PVT. LTD. ensure all its supplies are screened for conflict free supplies.
• We have published the OECD based ethical sourcing policy and we are communicating our policies to all the supply chain partners and pushing them to adopt the same.
• Area of concern & Remedial Measures
• Current concern is lack of awareness about OECD regulation and requirements of sourcing. We have started creating awareness about our Ethical sourcing requirements for our supply chain.
• We started Engagement with our global supply chain for obtaining the further supply chain information to ensure ethical and conflict free sourcing in metal business
• CHANDRA JEWELS PVT. LTD. has identified the risk of supply chain with respect to Conflict Affected High Risk Area.
• CHANDRA JEWELS PVT. LTD. ensure all its supplies are screened for conflict free supplies.
• We have published the OECD based ethical sourcing policy and we are communicating our policies to all the supply chain partners and pushing them to adopt the same.
• Area of concern & Remedial Measures
• Current concern is lack of awareness about OECD regulation and requirements of sourcing. We have started creating awareness about our Ethical sourcing requirements for our supply chain.
• We started Engagement with our global supply chain for obtaining the further supply chain information to ensure ethical and conflict free sourcing in metal business
2.5 Social Compliance
• We ensure full compliance with all applicable national and, where appropriate, international laws / regulations with respect to employment and labour codes in all our establishment.
• We respect all regulation for child labour, forced labour, non-discrimination, non-retaliation etc.
• All work man rights are respected and adhere to freedom of association and collective bargaining regulations.
• We respect all regulation for child labour, forced labour, non-discrimination, non-retaliation etc.
• All work man rights are respected and adhere to freedom of association and collective bargaining regulations.
Area of concern & Remedial Measures
• No point has been reported in the social compliance of the CHANDRA JEWELS PVT. LTD. where remedial measures at CHANDRA JEWELS PVT. LTD. level is required.
• Entity level remedial measures are taken based on internal and external audits conducted by reputed agencies.
• Entity level remedial measures are taken based on internal and external audits conducted by reputed agencies.
2.6 Health and Safety
• We at CHANDRA JEWELS PVT. LTD. are concern about the health and safety of employees and are constantly studding about any adverse impact of our business processes are 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.
• 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, is be monitored periodically through appropriate medical checks, and reviewed using expert inputs for improvements.
• All workplaces are constructed to meet safety standards with local regulations as the minimum standards that will be applicable.
• This review will use appropriate standards as required by prevailing laws, expert opinion, and our knowledge of best practices.
• 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, is be monitored periodically through appropriate medical checks, and reviewed using expert inputs for improvements.
• All workplaces are constructed to meet safety standards with local regulations as the minimum standards that will be applicable.
Area of concern & Remedial Measures
• Nil as on date, as no accidents are reported in last one year.
• Organization has been blessed and we did not have any fire or any other incidents leading to dangerous circumstances.
• Organization has been blessed and we did not have any fire or any other incidents leading to dangerous circumstances.
2.7 Human Rights
• CHANDRA JEWELS PVT. LTD. is not and 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 Company strongly discourages any form of sexually coercive, threatening, abusive or exploitative behaviour.
• 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 company.
• CHANDRA JEWELS PVT. LTD. ensures that none of its suppliers and stake holder have engaged in any activity which can violate the Human Right Principles.
• We have carried out the Human Right Due Diligence of suppliers and other Stake holders & based on risk assessment where necessary.
• The Company strongly discourages any form of sexually coercive, threatening, abusive or exploitative behaviour.
• 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 company.
• CHANDRA JEWELS PVT. LTD. ensures that none of its suppliers and stake holder have engaged in any activity which can violate the Human Right Principles.
• We have carried out the Human Right Due Diligence of suppliers and other Stake holders & based on risk assessment where necessary.
Area of concern & Remedial Measures
• No Area of concern & Remedial Measures has been raised in the Human right for any of our operating units.
• Supplier’s further upstream compliance with respect to Human Right compliance for conflict free sourcing is a new development, where company is heading and would require more focus on the same.
• Supplier’s further upstream compliance with respect to Human Right compliance for conflict free sourcing is a new development, where company is heading and would require more focus on the same.
2.8 Environment Protection
• CHANDRA JEWELS PVT. LTD. is Complying with all applicable environmental laws and regulations.
• Improvement is seen employee’s environmental awareness and performance with the help of detailed policies and procedures, training, and recognition of excellence.
• Improvement is seen employee’s environmental awareness and performance with the help of detailed policies and procedures, training, and recognition of excellence.
Area of concern & Remedial Measures
• Nil, mainly Sales office and no manufacturing activity.
ANNUAL REPORTING TEMPLATE (RJC TOOL KIT VERSION 5.0)
Company Name :
CHANDRA JEWELS PVT. LTD..
Date :
9th May, 2024
Reporting Period :
Calendar Year 2023-24
Step 1: Establish strong company management systems
1.A. Adopt and clearly communicate to suppliers and the public, a company policy for the supply chain of minerals originating from conflict affected and high-risk areas
• We have published the policy at company level for easy accesses to stakeholder.
• OECD and Best Practice Annual communication has been sent to all the active supplier.
• Awareness presentation on Ethical sourcing based on OECD guideline has been circulated.
• Detailed policy and procedure at entity level has been established based on risk of CAHRA’s is done.
• OECD and Best Practice Annual communication has been sent to all the active supplier.
• Awareness presentation on Ethical sourcing based on OECD guideline has been circulated.
• Detailed policy and procedure at entity level has been established based on risk of CAHRA’s is done.
1.B Structure internal management systems to support supply chain due diligence.
• Additional responsibility has been assigned to Compliance officer to look over the compliance of Ethical souring policy.
• All key employees involved in souring and procurement of precious metals have been trained on our Ethical precious metal souring policy. Refresher trainings are provided.
• List of Suppliers has been maintained along with status of their social and ethical compliance.
• On going monitoring of each supply and associated suppliers is carried out with the help of tools such as digital media, web search, review of supply documents, declaration and market intelligence etc.
• All key employees involved in souring and procurement of precious metals have been trained on our Ethical precious metal souring policy. Refresher trainings are provided.
• List of Suppliers has been maintained along with status of their social and ethical compliance.
• On going monitoring of each supply and associated suppliers is carried out with the help of tools such as digital media, web search, review of supply documents, declaration and market intelligence etc.
1.C Establish a system of controls and transparency over the minerals supply chain.
• Supplier upstream information collection process started and to obtained CAHRA’s information and Ethical sourcing compliance at supplier level.
• Currently Chandra Jewels Pvt. Ltd. 70% and above supply from law risk and balance 30% is from non-regular suppliers.
• Currently Chandra Jewels Pvt. Ltd. 70% and above supply from law risk and balance 30% is from non-regular suppliers.
1.D Strengthen company engagement with suppliers.
• As mentioned above supplier questionnaire has been circulated and we are in the process of following up with them to obtained the filed information from them.
• Further we are also obtaining the vital information about suppliers from social platforms and social compliance registration such as BPP & RJC, Approved ASM programs etc
• We are in the process of compiling filled supplier questionnaire data, after analysis we will be formulate supplier engagement practices based on risk reported at each supplier level (if any)
• Further we are also obtaining the vital information about suppliers from social platforms and social compliance registration such as BPP & RJC, Approved ASM programs etc
• We are in the process of compiling filled supplier questionnaire data, after analysis we will be formulate supplier engagement practices based on risk reported at each supplier level (if any)
1.E Establish A Company-Level, Or Industry Wide, Grievance Mechanism as An Early Warning Risk-Awareness System.
• We have established the grievance handling policy and procedure at company level, contact details of compliance head provided in Social and Ethical policy on our Web site under Business Principal Section (which is publicly available)
Step 2: Identify And Assess Risk In The Supply Chain
Identify And Assess Risks in The Supply Chain and Assess Risks of Adverse Impacts.
• We have established the detailed policy and procedure for identification of risk at entity level.
• Each entity has appointed and trained compliance officer to oversee the financial and ethical sourcing compliances.
• We have categorized supply chain in to 2 major segments that its Secondary supplier and Open market suppliers.
• All suppliers are bifurcated in to this category and open market supplies are considered as potential risk for supplies from CAHRA’s and thus step by step information are gathered from this category of supplier as mentioned in point 1.B & 1.C.
• Each entity has appointed and trained compliance officer to oversee the financial and ethical sourcing compliances.
• We have categorized supply chain in to 2 major segments that its Secondary supplier and Open market suppliers.
• All suppliers are bifurcated in to this category and open market supplies are considered as potential risk for supplies from CAHRA’s and thus step by step information are gathered from this category of supplier as mentioned in point 1.B & 1.C.
Step 2: Identify And Assess Risk In The Supply Chain
Identify And Assess Risks in The Supply Chain and Assess Risks of Adverse Impacts.
• We have established the detailed policy and procedure for identification of risk at entity level.
• Each entity has appointed and trained compliance officer to oversee the financial and ethical sourcing compliances.
• We have categorized supply chain in to 2 major segments that its Secondary supplier and Open market suppliers.
• All suppliers are bifurcated in to this category and open market supplies are considered as potential risk for supplies from CAHRA’s and thus step by step information are gathered from this category of supplier as mentioned in point 1.B & 1.C.
• Each entity has appointed and trained compliance officer to oversee the financial and ethical sourcing compliances.
• We have categorized supply chain in to 2 major segments that its Secondary supplier and Open market suppliers.
• All suppliers are bifurcated in to this category and open market supplies are considered as potential risk for supplies from CAHRA’s and thus step by step information are gathered from this category of supplier as mentioned in point 1.B & 1.C.
Step 3: Design And Implement a Strategy to Respond to Identified Risks (If Applicable)
Report Findings of The Supply Chain Risk Assessment to The Designated Senior Management of The Company.
• Ongoing monitoring of each supply is done by compliance officer to confirm its free from Conflict, were required Red Flags are been raised for seeking additional information and closed after receiving such information to our satisfaction.
• Compliance officer shall report all un-answered flags to Top management.
• In worst situation where information is half or not satisfactory management starts engagement practice and discussion and dialogue with suppliers is carried out to ensure full information in further business.
• Compliance officer shall report all un-answered flags to Top management.
• In worst situation where information is half or not satisfactory management starts engagement practice and discussion and dialogue with suppliers is carried out to ensure full information in further business.
Devise And Adopt a Risk Management Plan.
• We have formulated the risk management plans at entity level considering individual entities position in supply chain and position of supplier in supply chain.
• Entity compliance officer carries out monitoring of each and every business transaction and were required Red Flags are been raised and further steps are followed as mention above.
• Brief of companies Risk Management Practices has been mentioned in communication of Business policy on our website.
• Entity compliance officer carries out monitoring of each and every business transaction and were required Red Flags are been raised and further steps are followed as mention above.
• Brief of companies Risk Management Practices has been mentioned in communication of Business policy on our website.
Implement The Risk Management Plan and Monitor Performance of Risk Mitigation Efforts.
• Organization level monitoring of Red Flags and its effective closure is monitored.
• Compliance officer provides period status reports of OECD compliance to the management.
• Compliance officer provides period status reports of OECD compliance to the management.
Internal Training
• Organisation provides period training to all the concern employee involved in buying and selling and compliance monitoring team.
Communications
• Business principle has been published on the website covering all the COP wise policy including Ethical Precious Metal souring policy of the organisation.
• Over and above Annual communication on Business policy and Awareness on various best practices and expectation from business partners is communicated
• Over and above Annual communication on Business policy and Awareness on various best practices and expectation from business partners is communicated
OPTIONAL INFORMATION ON Step 4: Carry Out Independent Third-Party Audit
RJC COP Audit
• Recently Our factory has finalised the RJC COP 2019 Certification audit and same is scheduled in the month of May 2024
Grievances And Remediation
• No grievance of what so ever has been reported till date
Prepared By: Ms. Yeshwanti Shetty (Compliance officer)
Approved By:
Date: 9th May 2024
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