The origin of the Chit Funds can be traced back to many centuries in the rural parts of Southern India. Chit Fund is one of the oldest forms of indigenous financing in India. It is also a means of saving. In the ancient form of a Chit Fund scheme, a group of persons would deposit a fixed measure of grains with a trustee periodically, and the total quantity of grains collected at the end of any given period would be given to one among them, by drawing lots, is called 'kurippu' in malayalam from which the word 'kuri' is derived. The words 'kurippu' and 'kuri', translated into English, means 'Chit' from which the term 'Chit Fund' was coined.The Chit Fund schemes have remained much the same even today as they were in the beginning. One difference that has arisen over the centuries is that now the subscribers contribute in terms of money instead of agricultural produce as it used to be in the earlier days. The basic characteristics of a Chit Fund scheme, namely ,all subscribers contributing to common fund which is given to one of the subscriber is rewarded with the Chit amount (known as 'Chit prize amount') by the end of the scheme, remain without any change even today. In the olden days, when banking facilities were not available in the rural parts of the country, the needy people mainly depended on Chit Funds, as a mutual benefit activity for satisfying their financial needs. Even now, the procedural difficulties in availing bank finance make Chit funds an attractive and easy source of finance to a common man. In recent years, the Chit Fund activity has assumed the characteristics of a business and it has spread from the rural areas to urban areas.A Chit Fund is, thus, a mutual benefit saving scheme of a group of people who are the subscribers to the scheme. All subscribers contribute to the scheme in installments. After receipt of every installment, a lump sum amount is given to one of the subscribers by draw of lots or by auction, so that everyone of them is awarded the amount by the end of the scheme. The Hon'ble Supreme Court has held in M/s Shriram Chits & Investments (P) Ltd v. Union of India (AIR 1993 SC 2063) that Chit Fund business cannot be termed as money lending businesses. Most of the subscribers to the Chit Fund schemes are individuals who use these schemes to channelise their savings or are planning to meet their financial commitments in future. Whenever a subscriber needs money, he may bid for the Chit to receive the Chit amount. Since the installments may be spread over many years as per a Chit Fund scheme, the prize amount is repaid over the years. Small traders form a sizable chunk of subscribers who use Chit Fund schemes as a means of financing their businesses.The popularity of Chit Fund schemes is on the increase in certain parts of the country. More and more Chit Fund enterprises are coming up with attractive prizes. Many of such Chit Fund schemes are fully subscribed


Date Added: Jan 1, 1970 Hits: 10 Rating: 0.00 Votes: 5

Detail : KARUNYA KURIES AND LOANS

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As a diversification of industrial and business activities HARITHA HAWAI was incorporated in 1993. When the promoters discussed the details regarding diversification of industrial activity we were very particular that we should be able to utilise the resources available in Kerala. Hence we decided for a rubber based industry.


Date Added: Jan 1, 1970 Hits: 4 Rating: 0.00 Votes: 0

Detail : Haritha Hawai, Kerala, India - manufacturers and exporters of slippers, hawai chappals, sandals made

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Kerala Roadways Ltd or KRS is a company engaged in the transportation of goods and parcels. KRS budded way back in 1962 with Mr. V.K. Moidu Hajee starting three branches as a proprietary concern in Madras, Calicut and Ernakulam. Initially, the major clients were retail traders in Calicut and Ernakulam, as at that time, there was a desperate need to bridge the gap between Madras and the major cities in Kerala for easier transportation of goods and parcels. KRS turned this requirement into a reality and a quick transport service from Madras was made possible without any transhipment points en route to the above cities.


Date Added: Jan 1, 1970 Hits: 8 Rating: 0.00 Votes: 19

Detail : Kerala RoadWays KRS

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Vallabhdas Kanji Limited, Asia's largest processor of spice and spice ingredients, is located Kerala, India - the heartland of spices. VKL is the flagship company of the USD 100 Million Kanji Moorarji Group, which includes Kancor Flavours and Extracts Ltd, and Autohangar (India) Pvt. Ltd. Kanji Moorarji is renown for benchmarking quality in the spice trade. VKL commenced its operations in 1935 as a whole spice trader, with black pepper as its core product. Today, VKL has emerged as a technology based quality-driven supplier worldwide of a complete range of spice products. As India's largest, most diversified spice product exporter, VKL commands an expanding market in over 40 countries throughout the Americas, Europe, Oceania, the Middle East and South East Asia.VKL is managed by the principals of value creation. We use our financial and human resources to add value to our customers' products, through


Date Added: Jan 1, 1970 Hits: 5 Rating: 3.00 Votes: 1

Detail : Vallabhdas Kanji Limited

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FACT Fertilizers and Chemicals Travancore Limited

A Government of india enterprise, has business interests in manufacturing and marketing of fertilizers, engineering consultancy and fabrication of equipments.Later as part of it's expansion plans, it set up FACt engineering and Design Organization, to develop indigenous capabilities in vital areas of engineering , design and consultancy




Date Added: Dec 15, 2006 Hits: 27 Rating: 0.00 Votes: 0

Detail : FACT Fertilisers and Chemicals Travancore Limited

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Over the Decades, PARTHAS has earned and become a house hold name for the best and finest clothiers in Kerala - India, having favorite family life style department store with the blend of relaxed ambience of shopping experience, with the Traditional hospitality, personal service; especially at the flagship department store situated in the hub of the Cosmo Cochin "The Queen of Arabian Sea", land marked on M.G. Road, Ernakulam South End; having the leisurely air conditioned space of 30000 Sq. Feet, spread over 3 Floors, unveils the finest array of Wedding Silks, Designer Sarees, Ethnic Sarees, Casual Sarees, Dress Materials, Branded Ready Made Garments of all ages and Accessories, Household Furnishings, Indian Traditional, Cultural and Contemporary Gifts and CDs.

The founder whose traditional business expertise in Textiles since 1916, started the venture in 1960, named the establishment as PARTHAS TEXTILES, (PARTHAS), after his eldest son Parthasarathy.

With growing interest in doing business worldwide, it started to export to U.S.A. in 1981, and PARTHAS EXPORTS was registered as a separate entity in 1992 and recognized as "STAR TRADING HOUSE" by the Government of India.


Date Added: Dec 15, 2006 Hits: 23 Rating: 0.00 Votes: 0

Detail : Parthas Textiles

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Alukkas Jewellery was founded by the Late Sri Alukka J Varghese in the small town of Thrissur in Kerala in 1956. His consistent hard work, dedication and foresight inspired his five children to transform Alukkas from a small 200 sq feet showroom to a conglomerate with diverse interests.

The five brothers have fine-tuned the jewellery business to emerge as the emperors of the retail jewellery business in Kerala.

When Joy Alukkas, the fourth sibling flew to UAE to explore the market, little did he realise that he was going to change the way the world looked at gold jewellery. He set up his first shop in Abu Dhabi followed by Dubai, Sharjah, Al Ain and Ras Al Khaimah. The expansion has continued to other countries as well like Qatar, Oman, Bahrain and Kuwait.

In 2001, on the advice of the eldest sibling, Alukkas decided to split the company and diversify it into independent business units. This paved the way for the emergence of the Joyalukkas Group under the leadership of Mr. Joy Alukkas who created a new business identity.

In 2002, the Joyalukkas Group opened a huge jewellery showroom in Kottayam, Kerala. Considering the wide range of opportunities that traditional Indian weddings offer, Mr Joy Alukkas introduced the concept of having a “Wedding Centre” incorporated within a Jewellery store.

The first Wedding Centre was opened in Angamally followed by Thuiruvalla, Kollam and Cochin.

In its quest for business opportunities, the Joyalukkas Group started its first IT Division in Dubai under the brand “Fusion Systems” that has a state-of-the-art off-shore development centre based in Cochin, India.

Joyalukkas Exchange was initiated considering the large number of expatriates residing in the gulf countries, providing opportunities for huge foreign remittance business and also an opportunity for forex transactions.

The growing economy of Dubai and the other Gulf Countries and the richness of the people living there have encouraged the Joyalukkas Group to further diversify into the realm of Shopping Centres.

The Joyalukkas Group has a staff strength of 2500 who are employed directly for the Group's businesses. Over and above this, the Group's activities provide indirect employment to over 15,000.


Date Added: Dec 15, 2006 Hits: 50 Rating: 3.25 Votes: 4

Detail : Alukkas Jewellers, Joy alukkas

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A. Geeri Pai Jewellers, is your source for all jewelry needs, bringing you the intricate works and design patterns.Backed by the finest Diamond available in today's market, we cruise-through to scoop the premium designer collection of earrings & studs, rings, bangles & bracelets, and necklace all set in Hallmarked gold, as well as in Platinum brushed gold and white gold, that has everything to kindle your heart.


Date Added: Dec 15, 2006 Hits: 11 Rating: 0.00 Votes: 0

Detail : A Geeri Pai Jewellers

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The Eastern Group was founded by Shri. M. E. Meeran 25 years ago. The group started its activities by venturing into Whole Sale Trading. Subsequently the Group diversified its business into manufacturing, servicing and tourism sector in a phased manner.

Now involved in ready-to-use spices, tread rubber, mattresses and pillows, clothing, packaged drinking water and distribution. At present a team of professionals manages the group and family members led by the chairman Mr. M. E. Meeran and his son Mr. Navas Meeran.


Date Added: Dec 15, 2006 Hits: 16 Rating: 0.00 Votes: 0

Detail : Eastern Group

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Established in 1994, Garden Fresh is engaged in the sourcing, packing and distribution of hygienic, whole spices. The company is based in Kerala (South India), which is known as the land of spices, owing to the abundance of variety of spices that grows naturally in the state.

Spices are handpicked and manually graded so that only the best pieces are selected and packed. Seasonal spices are collected in large quantities and stored hygienically to ensure uninterrupted supply all through the year. Products are available in bulk as well as consumer packs.

The management team consists of professionals in Agriculture, Finance, and Marketing, who lays stress on Quality Management.

Graden Fresh's office and factory are located at Perumbavoor, 20 kms from Cochin City.


Date Added: Dec 15, 2006 Hits: 19 Rating: 0.00 Votes: 0

Detail : Garden Fresh Spices

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