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Journalism of Courage
Almost nine years after Subashchandra Vireshwar Limaye hit the international headlines with his chance ownership of the world’s costliest 1,280-carat double-starred ruby, he is now preparing to donate it.
‘Rudraksha’, as he calls it, is the largest ruby in India and the second largest in the world. And it will soon adorn the wealthiest Indian God — Tirupati Tirumala Devasthanam’s crown.
Once a prosperous miner, Limaye now claims he is bankrupt. He admits, donation was his last resort, tired as he was of unsuccessful efforts to sell the ruby. ‘‘A deal had been clinched with the Sultan of Brunei, but banks refused to help. Without a bank, the deal couldn’t have been possible,’’ he claims.
And if he’s to be believed, he has some more jewels in his Nagpur lockers, which are worth a few more crores. ‘‘Valued at Rs 8,000 crore, the gem’s donation will establish my credibility and I shall be able to encash at least my remaining jewels,’’ he adds.
Although Limaye has planned the donation ceremony for November 11, the Tulsi vivah day, he is yet to receive an official permission from the Trust. ‘‘Legally, I am not required to take a permission for donation. But I have sent two letters,’’ he said.
Limaye informs that the Devasthanam had first accepted his donation offer in 1998, but insisted that the gem first be officially valued and certified. Following this a valuation by Jayashree Panjikar, a registered Pune gemologist, estimated the gem to weigh $ 1,000 per carat, costing approximately Rs 8,000 crore in the international market.
Meanwhile, Limaye has formed a trust, Rudraksha Foundation, with some of his friends and vested the ownership of the jewel in it. ‘‘The donation now will be in the name of Gondia district,’’ he says.
