Vallabh Lakhani proposes to step down as SDB chairman

Surat: Vallabh Lakhani, the chairman of Surat Diamond Bourse (SDB), has stepped down from his position. Lakhani has reportedly tendered his resignation to the core committee and urged other members to assume responsibility.

Lakhani, also the chairman of Kiran Gems, had closed his Mumbai office in November last year, relocating all operations to Surat. However, Kiran Gems reopened its Mumbai office in January after other diamond firms failed to open their facilities at SDB. Lakhani’s Kiran Gems owns the largest office space in SDB, covering 1.17 lakh square feet. The company has also arranged over 1200 accommodations near SDB for its staff.

Dinesh Navadiya, a member of the SDB media committee, commented, “I have not received any information regarding Vallabhbhai’s decision.”

Previously, Nagji Sakariya, the chairman of SDB cooperative society, resigned citing personal reasons, yet his resignation is pending acceptance.

The problem with SDB at present according to insiders is that most firms have not started their business from here for various reasons. DeshGujarat