Malabar Gold & Diamonds — Delaying to close gold scheme

Address:Malabar golds and diamonds Erode

I’m an existing customer of Malabar Golds & Diamonds for the past 3 years. I participated in a scheme at Malabar's Erode Branch (screenshot attached).

On September 3, 2023, I went to the Erode Branch to close the scheme, but they couldn't do it that day due to maturity. Since I'd recently moved to Bangalore, my sole purpose for visiting Erode was scheme closure. Erode Branch assured me I could do it at any Bangalore branch, with Erode handling the payment.

Subsequently, on October 8, 2023, I visited the Bangalore MG Road Branch and selected a necklace for my wife using the scheme. They mentioned that closing the scheme would require some time. I promptly verified with the Erode Branch (Kathirvel), and they assured me that it would be processed within a day.

It has come to my attention that only on October 11, 2023, the MG Road branch forwarded an email to the Erode branch regarding my necklace purchase. I diligently followed up on the progress daily, with each response, "we will call you back".

On October 13, 2023, I received a WhatsApp message with an estimate that included GST for a non-existent wastage of 16.9% as specified by the scheme (with no wastage applicable for percentages under 18%). When I raised concerns about this, it revealed a discrepancy of around ₹570. Additionally, there was an inconsistency in the stone charges when compared between the two branches, which was not previously disclosed.

Initially, upon approaching the Erode branch, they never mentioned any price differences across branches. They assured me that regardless of the selected ornament, the price would remain constant stating ‘fair price - same across India’, irrespective of wastage or stone charges. Regrettably, this did not hold true. When attempting to make a purchase at the MG Road branch, they stated that there will be variations in wastage charges between branches while all the charges remains unchanged.

Thus far, the assurances made by the staff have not materialized. When I inquired with Parthiban from the Erode branch about the additional GST for the wastage charges, he mentioned that they would discuss it with their manager and revert to me. However, there has been no response from Parthipan since October 13, 2023. I waited until the evening of October 13 to receive the actual amount for payment to complete the purchase of necklace from the MG Road branch. However, no calls or messages were received from Parthiban- Erode branch. Consequently, I had to text him the following day to inquire about the delay, and he simply conveyed that the price had appreciated and did not mention how much I have to pay.

I emphasized that I initiated the scheme closure process on October 8 and that there had already been a two-day delay from the MG Road branch in sending an email to the Erode branch. Then, there was a three-day delay in providing the correct payment estimate. Importantly, this entire delay, exceeding 6 to 8 days led to loss of ₹3000 for me, purely from Malabar's end and was not due to any action on my part.

Subsequently, I requested one of my friends working in Erode to visit the branch and check the status. It was only then that an official from the Erode branch responded, indicating they would revert the next day. Today, a call was received from the Erode branch - Rahim, expressing that they had already made several concessions and couldn't make further adjustments. However, it remains unclear what these concessions entailed, apart from the delay in processing our payment.

As professionals in the service industry, we understand the significance of customer service and how customers should be treated. The response from the Erode branch following this incident appeared to lack concern for the events that unfolded. Their primary objective seemed to be overlooking the issue by compelling us to pay the appreciated gold price, without acknowledging the delays and losses caused by Malabar's lack of response.

We never anticipated waiting for more than a week, and we are disheartened by the service received from Malabar. Due to the delays caused by Malabar, they are now insisting that we pay over ₹3, 000 extra to purchase the same necklace. Regarding the discrepancies I mentioned earlier (GST for non-existent wastage and increased stone charges), they are now acknowledging their errors and can remove them from the invoice. Nevertheless, Rahim from the Erode branch called today and rudely conveyed that they could only reduce ₹1, 000, requiring us to pay ₹2, 000. This arrangement appears unethical and as we feel unfairly burdened by this extra expense. I demand a proper answer for all these and settle the issue soon admitting the delays happened at Malabar end.

Now I'm unable to reach customer care number, mail, Erode Branch, or any of previous contacts as none of them Pick up my calls. It's delayed my amount is locked there. Gold price is appreciated and due to Malabars delays, my loss is adding up day by day.
Was this information helpful?
No (0)
Yes (0)
Malabar Gold & Diamonds customer support has been notified about the posted complaint.
Complaint comments 

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment
    code
    By clicking Submit you agree to our Terms of Use
    Submit
    Malabar Gold & Diamonds
    customer care contact
    Customer satisfaction rating Customer satisfaction rating is a complex algorithm that helps our users determine how good a company is at responding and resolving complaints by granting from 1 to 5 stars for each complaint and then ultimately combining them all for an overall score.
    Read more
    6%
    Complaints
    248
    Pending
    0
    Resolved
    15
    Malabar Gold & Diamonds Phone
    +91 49 5272 6916
    Malabar Gold & Diamonds Address
    201, Landmark Building, New Link Road, Andheri (W), Mumbai, Maharashtra, India - 400053
    View all Malabar Gold & Diamonds contact information