 | This article contains content that is written like an advertisement .(February 2021) |
Joy Alukkas | |
|---|---|
 | |
| Born | Alukkas Varghese Joy 29 October 1956 |
| Title | Chairman of Joyalukkas Group |
| Spouse | Jolly Joy |
| Children | 3 |
Joy Alukkas is an Indian businessman from Kerala. He is the chairman and managing director of Joyalukkas Group. According to a 2023 Forbes report, he has a net worth of $4.4 billion. [1]
His father, Varghese Alukkas, was a jeweller. [2] His father Alukka Joseph Varghese senses a golden opportunity in the jewellery business and sets up a small store on High Road in Thrissur, Kerala, India. Later he shared his business among his sons - Jos Alukkas, Francis Alukkas, Joy Alukkas and Anto Alukkas. Joy Alukkas mainly concentrated in overseas business and started trading in gulf countries.
In 2001, Alukkas founded Joy Alukkas Jewelry. The group is based in Thrissur, Kerala and Dubai. [3]
In 2007, he opened a gold & diamond jewellery showroom, [4] and a "Diamond Cave" in Chennai, India. [5]
In 2012, Joyalukkas was authorized to sell Forevermark branded diamonds from De Beers. [6]
Other businesses headed by Joy Alukkas include Mall of Joy, a shopping retail destination, Jolly Silks, a silk fashion label, Joyalukkas Exchange, a money exchange platform, and Joyalukkas Lifestyle Developers, a real estate company. [4]
In May 2018, Joy Alukkas donated ₹20,000,000 as a relief fund for victims of the Cyclone Ockhi. [7] After the Kerala Floods in September 2018, the Joyalukkas Foundation announced that it would build 250 houses for those who have lost their homes. [8]
350 orphaned students were awarded the 'Joy of Hope' scholarship by Joyalukkas Foundation securing educational support for five years. Supported by a ₹2.5 Crore contribution from Mr. Joy Alukkas. Plans for a Thrissur based old age home and palliative care center were also announced. [9]
In 2018, Income Tax Department Kochi carried out an IT raid on over 130 showrooms and premises related to the group, and found tax evasion and unaccounted sales of gold jewellery to the tune of ₹500 crore. [10]
In February 2023, the Income Tax Department confiscated assets worth ₹305 crore of Joy Alukkas group as part of the raid on alleged black money transfers. [11] [12] [13]
ED has successfully resolved the case of financial transfer via Hawala Channels from India to Dubai, Joy Alukkas, the Chairman of Joy Alukkas India Pvt Ltd, had assets valued at ₹305.84 crore attached by the Directorate of Enforcement in February 2023. [14]
Tanishq is an Indian jewellery brand and a division of Titan Company. Founded in 1994, Tanishq is headquartered in Bangalore, and has 410 retail stores across more than 240 cities in India, UAE, the US, Singapore and Qatar.
Yusuff Ali Musaliam Veettil Abdul Kader, popularly known as M. A. Yusuff Ali, is an Indian businessman and billionaire. He is the chairman and managing director of LuLu Group International, which owns the LuLu Hypermarket chain worldwide and LuLu International Shopping Mall. With an annual turnover of US$8.4 billion, LuLu Group International employs the largest number of Indian diaspora|Indians outside India]]. According to Forbes Middle East, Yusuff Ali was ranked No. 1 in Top 100 Indian business owners in the Arab World 2018. As per Forbes billionaires list published in October 2023, he was ranked 27th richest Indian with net worth of US$6.9 billion.
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