OurBuzz
INDIA GOLD CONFERENCE
Future of Gold Refining
An expert panel comprising Satish Bansal,President-Association of Gold Refiners & Mint (AGRM),James Jose, President – Association of Gold Refiners and Mint and MD-CGR Metalloy, Sakhila Mirza, Deputy CEO-London Bullion Market Association (LBMA) and Praveen Baijnath,CEO-Rand Refinery and moderated by Ketan S Dhruv, Director-Bangalore Refinery Pvt Ltd focussed on regulatory issues impacting refiners and creating an ESG mindset in refining to truly make it an ethical and sustainable sector.
From pollution control, environmental consciousness, health and safety of workers to ESG rating metrics and accounting to UN SDG goals – all was integral to be a sustainable refining enterprise.
The discussion also included LBMA, WGC collaboration to develop and implement an international system of gold bar integrity, chain of custody and provenance. Over time, this will help consumers, investors, and market participants to trust that their gold is genuine and has been responsibly and sustainably sourced.
The panel dwelt on policies and regulations of import of dore, long term contracts between miners and refiners, artisanal mining.
BrandBuzz
MCA raises “small company” thresholds – up to ₹10 cr capital & ₹100 cr turnover from 1st December 2025, major relief for jewellery trade
In a landmark decision that will significantly ease compliance for thousands of jewellery businesses across India, the Ministry of Corporate Affairs (MCA) has revised the definition of “Small Company” under the Companies Act, 2013, effective 1st December 2025.GJC published and sent out this important update to the jewellery trade.
New Eligibility Criteria (both conditions to be satisfied):
- Paid-up Share Capital : ≤ Rs.10 Crore (earlier Rs.4 Crore)
- Annual Turnover : ≤ Rs.100 Crore (earlier Rs.40 Crore) (as per the latest audited financial statements)
Any company exceeding even one of the above limits will cease to be a Small Company.
Key Benefits for Jewellers (Private Limited & Family-Owned Firms):
- Only 2 Board Meetings required in a year
- Exemption from mandatory Internal Audit in most cases
- Substantially lower penalties for defaults
- Simplified Annual Return via Form MGT-7A
- No need to prepare Cash Flow Statement in financials
- Exemption from mandatory Auditor Rotation – continue with existing trusted auditors
- Reduced overall compliance cost and administrative burden
GJC advised jewellery firms to immediately review their Paid-up Capital and Turnover for FY 2024-25 to confirm eligibility and start availing the relaxations from the current financial year itself.
MCA raises “small company” thresholds – up to ₹10 cr capital & ₹100 cr turnover from 1st December 2025, major relief for jewellery trade
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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.