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M P Ahammad, Chairman of Malabar Group, Conferred Maharashtrian of the Year Award 2026 by Maharashtra CM Devendra Fadnavis

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Mr. M.P. Ahammad, Chairman, Malabar Group, has been honoured with the prestigious Business Bhushan Award at the Lokmat Maharashtrian of the Year Awards 2026, in recognition of his visionary leadership and pivotal role in transforming the global jewellery retail landscape and society at large.

Held at the iconic Gateway of India, the awards ceremony brought together leading policymakers, industry leaders, and prominent personalities from business and entertainment. The event was attended by the Chief Minister of Maharashtra, Devendra Fadnavis, and Deputy Chief Minister Eknath Shinde, along with Vijay Darda, Chairman of Lokmat, alongside ministers, bureaucrats, and distinguished figures from across sectors.

Presented by the Lokmat Media Group, the awards celebrate individuals whose vision, leadership, and achievements have significantly shaped industries while contributing meaningfully to society. Mr. Ahammad’s recognition highlights his remarkable entrepreneurial journey and the role he has played in building Malabar Gold & Diamonds to become the 5th largest global jewellery retailer and the largest jewellery retailer of Indian origin.

Expressing his gratitude on receiving the honour, M.P. Ahammad, Chairman, Malabar Group, said,
“I am deeply honoured to receive the Business Bhushan Award at the Lokmat Maharashtrian of the Year Awards. This recognition reflects the collective dedication of the entire Malabar family and the trust our customers have placed in us over the years.

Our journey is founded on the principle of collective growth of all our stakeholders, guided by responsibility, integrity, and a commitment to creating lasting value for society, while continuing to pursue excellence in everything we do.”

Founded in 1993, Malabar Gold & Diamonds has been a pioneer in responsible and transparent jewellery retail, contributing significantly to employment generation, strengthening the organised retail ecosystem, and enhancing customer experience through world-class designs and services.

Today, the brand stands as a true flag bearer of India, showcasing the nation’s craft and heritage to the world through its 425 showrooms across 14 countries. The brand has reimagined the jewellery industry by integrating the entire value chain—from design and manufacturing to retail and beyond.

Maharashtra remains a key market for Malabar Gold & Diamonds, with 34 showrooms across major cities. This growth has boosted employment, strengthened the organised jewellery ecosystem, and improved access to quality designs. His substantial contribution to the state earned him this honour, and the Group is committed to further expansion, targeting 64 stores in Maharashtra by 2029.

Beyond business growth, Mr. Ahammad has advanced a purpose-driven model by embedding CSR and ESG commitments into the company since inception, consistently contributing 5% of profits to education, healthcare, housing support, and women’s empowerment programmes, benefiting society across regions of operation.

His recognition with the Business Bhushan Award further reinforces his stature as one of India’s most respected business leaders, whose entrepreneurial vision and values-driven leadership serve as an inspiration and blueprint for future global enterprises.

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National News

Senco Gold & Diamonds Partners With Olocker to Give Customers Free Jewellery Insurance, Letting Precious Memories Be Worn, Not Hidden Away

A Customer-First Initiative Designed to Help People Wear Their Precious Memories with Confidence.

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Senco Gold & Diamonds, one of India’s most trusted jewellery houses, has partnered with Olocker, India’s first dedicated jewellery insurance platform, to offer free jewellery insurance to its customers, protecting purchases against risks such as snatching, robbery, and housebreaking.

On the surface, it’s a simple value-add: buy jewellery from Senco, get it insured, at no extra cost. But the thinking behind it is more personal — the freedom to actually live with the things you love. 

There is a quiet ritual that plays out in homes across India every wedding season, every anniversary. A piece of jewellery is bought with love, worn once or twice with pride — and then, almost apologetically, tucked away in a bank locker for “safekeeping.” The very thing meant to be cherished ends up spending most of its life in the dark.

A Locker Is No Place for a Memory

Ask any family that owns fine jewellery, and you’ll hear the same quiet anxiety: the fear of stepping out wearing something precious, the fear of a break-in while the house is empty. For many, the solution has always been the same — lock it away, take it out only for weddings and festivals, and let it sit untouched the rest of the year.

It’s a practical response to a real risk, but it also means jewellery bought to mark a marriage or a milestone ends up being seen far less than it deserves.

This is the exact problem Senco Gold & Diamonds’ Managing Director, Suvankar Sen,

has spoken about wanting to solve. Known for a customer-first philosophy that goes beyond transactions, Sen has often said jewellery should be something people live with, not something they merely own. “Jewellery is never just metal and stone,” Sen said, explaining the thinking behind the Olocker partnership. “It’s a wedding day, a mother’s blessing, a promise kept. When customers can’t step out wearing it, or can’t leave home without worrying about a break-in, something is broken in that experience. We wanted to fix that.” 

That sentiment is the quiet engine behind this initiative. Rather than simply selling jewellery and stepping back, Senco has chosen to walk the extra mile — ensuring that once a customer takes a piece home, they can wear it freely and pass it down through generations, without the constant undercurrent of worry. 

What the Partnership Actually Offers

Through this collaboration, Senco customers receive free jewellery insurance via Olocker on qualifying purchases, protecting against snatching, robbery, and housebreaking.

Olocker, India’s first digital platform dedicated to jewellery insurance and asset tracking, brings the technical and insurance backbone — while Senco brings its decades of trust, built since 1938, to make sure customers actually use it. 

For a family that has just bought a piece for a wedding, this means peace of mind — wearing that necklace to a dinner without the nagging thought of “what if someone snatches it,” or “what if someone breaks in while we’re away.” 

A Partnership Built on Shared Intent

The excitement isn’t one-sided. At Olocker, the partnership is seen as validation of the idea the platform was built on — that jewellery insurance should be a natural, everyday companion to ownership, not a niche afterthought.

“This is genuinely one of the most exciting collaborations we’ve been part of,” said Milind Shethia, Founder & Chief Marketing Officer at Olocker. “Our mission has been to help people wear their jewellery instead of locking it away, and partnering with a name as trusted as Senco brings that mission to millions of customers at once.

What’s heartening is Mr. Sen’s own approach — he didn’t look at it as a marketing tie-up, but as giving something back to people who’ve trusted Senco for generations. That kind of intent is rare, and it’s exactly the spirit we built Olocker around.” 

That mutual sense of purpose is what gives this partnership its quiet credibility. It isn’t a scheme or a promotional hook, but two organisations agreeing on a simple, shared belief: jewellery should be lived in, not locked up. 

A Bigger Idea About Ownership

There is a broader philosophy at play, one Suvankar Sen has championed throughout his tenure at Senco — that jewellery is an emotional asset as much as a financial one, and customers shouldn’t have to choose between enjoying it and protecting it.

This partnership feels less like a marketing initiative and more like a promise kept, reflecting a leadership style that measures success in something harder to quantify — how cared for a customer feels long after leaving the showroom. 

As jewellery increasingly doubles as adornment and investment, initiatives like this one may well set a new benchmark for customer care in the industry.

Senco, through its partnership with Olocker, isn’t just insuring jewellery against snatching or a break-in — it’s giving people back the freedom to wear their memories, out loud, without fear. 

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