Consequent to Vanaichand’s death in 1957, M/s R.V. Durlabhji stood dissolved, and a new firm was born – R.Y. Durlabhji (named after Rashmikant and Yogendra, Khailshanker’s two sons).
Rio Tinto and Sandwana
Around this time came news of a new mine in South Rhodesia, rumoured to be producing the finest emeralds. In another daring move, Khailshanker met with Tiny Rowland, owner of Rio Tinto, to purchase and manufacture its entire Sandwana production. This was a gamble – as no one had ever manufactured Sandwana emeralds prior to this, and hence, no one knew how the rough would pan out. Khailshanker processed the entire rough, distributing the final product to only one major player in each country in order to avoid unhealthy competition. The emeralds were unbelievable. All the local jewellers immediately wanted a part of the pie but Tiny Rowland stood firm, and honoured his commitment to Khelubhai – despite syndicates and conglomerates offering him several times what Khelubhai had offered. He declared that he held Khailshanker in high esteem as he had never ever reneged on either commitment or payment.
Until 1969, the Durlabhjis sustained their close-circuit business, procuring all the emerald rough from Sandwana, and exporting emeralds to an elite band of clients worldwide. This arrangement ended only when the political situation between the two countries deteriorated, and goods could no longer be shipped out of Rhodesia. However, by then, Khailshanker had earned the sobriquet of “Emerald King” – bestowed upon him by a starstruck trade that watched his every audacious move with awe and admiration.
