Rajmal Lakhichand Jewellers Complaints & Reviews

I had bought Diamond Pendant from Rajmal Lakhichand Jewellers 4 to 5 years back. At the time of purchasing they had mentioned that it can be Returned/exchange by deducting certain amount.
The Pendant is worn out now and its one of the part is also broke. I wanted to exchange it (most probably want to return it). But Most of the RL showrooms are closed now and I cannot contact them.

Also other jewellers don't deal with the Diamond jewelry purchased from another jewellers.

I cannot use the broken jewellery and nor I can exchange/return it. Please do the needful.

Thank you in Advance!!

My parents had bought diamond earrings from rl jewellers in 2009. The bill amount was around 1, 12, 000/-.in the bill it states that when returning the value would the market cost minus 10%. I have been following up with them for return since 7 months and everytime the answer was that the diamond jewellery business is on hold for some time. No specific timeline mentioned. After some time i got number of a person who looks after the diamond business. When i contacted him, he gave me evaluation of my jewellry on a kaccha paper which he said to be around 53000/- rupees. I said to give him the same evaluation on their official letter head and he refused to do that. These are fraud jewellers and looters.

To,
Respected Honour,
Grievance Cell

Complaint- Cheating / Fraud in FD Gold Scheme by Rajmal Lakhichand Jewellers

On 11th April 2014, we deposited our Gold ornaments weighing 80grams altogether in FD scheme at Rajmal Lakhichand Jeweller (RL), Thane branch on the advertisement stating the Gold can be used to source another income to earn attractive interest of 16.2% pa from them.

RL team promised us interest of 16.2% PA for the period we keep our ornaments in Deposit Scheme, it was also agreed for withdrawal from the scheme at any point of time from any of its Stores to which RL will be paying on pro-rata basis.

When interevened for the act, they denied of any communication for our case from Jalgaon store on that day.
We asked the RLJ store to return our 80grams Gold kept in custody back, now the guys have 70grams to give me back as 10grams money value is the labour charges they will be deducting... when the Gold was bought from the store we have already paid them Labour Charges and we have given this Gold for FD schemes and not sold to them.

Finally in 2019, we decided to withdraw from the scheme as we had Wedding Function at home, with faith and trust we went to Thane store to get back our Gold ornaments of gold value deposited. We confirmed with them for ornaments repurchase against the Gold principal value plus the interest thereon accumulated so far.
But that was not the case at RLJ store, the staff hesitated and replied that the RLJ does not have any such schemes running here any more so the same should be closed and to make Full &Final settlement at Thane store only.

Interest on Gold Value was not paid appropriatey and moreover our deposited Gold was given back to us with Rs 1000/ tola less(market price of Rs 32500/tola ie Rs 31500/tola)
Visited Thane store thrice for withdrawal formality- Rs 31500 X 8tolas= Rs 252000
was divided in 2sets of cheques of Rs 126000 dated 28th June & another of Rs 126000 for date 30th July.
Upon frustration, next day we revisited the Thane store for want of Full payment together and that too now, because we have deposited the gold ornaments at one stretch.

I request the authority to decide the compensatory value on the terms of Financial, Mental, Health agony we had gone through these many days due to RLJ.
Interest paid inappropriately
Gold value amount inappropriately calculated

Our expectation for interest calculation is

27500 (Gold Rate @2014) X 8 Tolas X 16.2% PA interest X 5 years = 178200 receivable interest amount + 272000 receivable gold value for 8 Tolas (current rate of 33500/ tola) i.e . Rs 450200 Nett Total Receivable

Mrs Asha A Solanke
+91-[protected]

This is the fd case which rajmal lakhichand jeweller (Rl) has once advertised, stating the gold can be used to source another income from them.
The gold let by us to them was 80grams altogether comprising ornaments. Rl team promised us for 16.2% earning yearly for the time we keep our ornaments with them, it was also agreed to withdraw from the scheme at any point to which rl will be paying on pro-rata basis.
Then to our knowledge we entered the agreement with them on 11-april-2014, they have derived a figure for calculating the gold value at 2750/ 10grams kept in custody. (When questioned about same they have no answer)
It has been more than 5years we stored our gold ornaments ensuring in safe hands, but that was not the case here.
In 2019, during the wedding ceremony at home, we were ensured by thane store to get the ornament by choice from jalgaon store - despite that we were told again to go back to thane store as the officer communicated with the incharge of thane store - created a movie scene and
We could not wore our gold at ceremony the day which we had dreamt of.
When interevened for the act, they denied of any communication for our case from jalgaon store on that day.
We asked the thane store to return our 80grams gold kept in custody back, now the guys have 70grams to give me back as 10grams money value is the labour charges they will be deducting... When the gold was bought from the store we have already paid them labour charges and we have given this gold for fd schemes and not sold to them.
We were frustrated by the play and soon demanded the money for 80grams gold value instead - they paid 4years interest based on value they derived with 2nos cheques rs 126000/- each of 28th june and another of 28th july. When asked for the money on the same day, they started telling that they dont know us and the gold which we are talking about... They took our originals receipts for giving us the cheques.

Our fight is to get compensation for the gold value at current market rate and the interest amount to be calculated at 16.2% on gold price till the gold was in their custody.
We were in need of money for our financials were not good, they are giving us post-dated cheques, for our ornaments from them.
They have been fooling the public and need to close the stores immediately so that no one fall prey to cheaters anymore.

I purchased Mangalsutra of 35 gm in 2009 for wedding. I observe that it is rapidly losing its shine & structure like other ornaments I purchased from R. After 3 yrs I & my wife decided to replace old one with new. When I ask RL representative to buy back old one with new, they politely push me to buy new from them, but we refuse. Then the policies they told us are like “Shocking” & “Looting”
1. First they told 2...