Rosy Blue

Last updated

Rosy Blue is an Indian-Belgian company [1] [2] [3] [4] that has interests in media, real estate, financial services and retail. The company also trades in rough diamonds, manufactures and distributes polished diamonds and jewellery. [5] [6]

The company is one of the largest diamond traders worldwide [7] and has 12 offices in seven countries around the world: Belgium, Israel, Hong Kong, Japan, United States, China, UAE (Dubai). [8] [9] Russell Mehta is the current managing director of the Indian arm of the company. [10]

Rosy Blue [11] is a De Beers sightholder.

History

The company was founded in 1960 by Arunkumar Mehta and his cousin Bhanuchandra Bhansali. In the 70’s the company headquartered in Antwerp, Belgium and expanded its operations to several other diamond centers. [12] [13]

In 2005 Rosy Blue became a founding and certified member of the Responsible Jewellery Council. [14] [15]

In 2008 Rosy Blue became a signatory to the United Nations Global Compact. [16]

In 2017, Rosy Blue was named in both Panama Papers and Paradise Papers as an entity which transferred money to safe havens to avoid taxes in the country. [17]

Related Research Articles

A sightholder is a company on the De Beers Global Sightholder Sales's (DBGSS) list of authorized bulk purchasers of rough diamonds. De Beers Group made this list, the second largest miner of diamonds. DBGSS was previously known as DTC. In May 2006, DTC released a list of the 93 sightholders on its website.

<span class="mw-page-title-main">Titan Company</span> Indian multinational watch manufacturing company

Titan Company Limited is an Indian company that mainly manufactures fashion accessories such as jewellery, watches and eyewear. Part of the Tata Group and started as a joint venture with the TIDCO, the company has its corporate headquarters in Electronic City, Bangalore, and registered office in Hosur, Tamil Nadu.

<span class="mw-page-title-main">Life Insurance Corporation</span> Indian public sector life insurer

Life Insurance Corporation of India (LIC) is an Indian public sector life insurance company headquartered in Mumbai. It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹41 trillion (US$510 billion) as of May 2022. It is under the ownership of Government of India and administrative control of the Ministry of Finance.

<span class="mw-page-title-main">Alrosa</span> Russian diamond mining company

Alrosa is a Russian group of diamond mining companies that specialize in exploration, mining, manufacture, and sale of diamonds. The company leads the world in diamond mining by volume. Mining takes place in Western Yakutia, the Arkhangelsk region, and Africa. Alrosa is Russia's leading diamond mining and distribution company, accounting for 95% of Russian diamond production and 27% of global diamond extraction.

The city of Thrissur, the cultural capital of Kerala, is also a major commercial and business hub of South India. It is said to be the heartland of Kerala's business acumen and home to most every leading Malayali entrepreneurs. The city which is famous for Bullion, Banking and its Business acumen, is the darling of investors in Kerala. Thrissur is also referred as the Golden city of India. It manufactures 70% of plain gold jewellery in Kerala per day. According to a survey, Thrissur city has been placed on 7th among the ten cities in India to reside. According to Registrar of Companies, the period from 1 January to 31 March 2010, 87 companies were registered in Thrissur and stood second in Kerala after Cochin. Thrissur's traditional strength lies in best entrepreneurial and financial capabilities.

<span class="mw-page-title-main">Yes Bank</span> Indian bank

Yes Bank is an Indian bank headquartered in Mumbai, India and was founded by Rana Kapoor and Ashok Kapoor in 2004.

<span class="mw-page-title-main">Reliance Retail</span> Indian retail company

Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement products, electronic goods, and farm implements and inputs. Apart from physical outlets, the company also sells products on its e-commerce channels. It has 280,000 employees at 16,700 store locations.

IIFL Finance Limited d/b/a IIFL and India Infoline Finance Limited, is an Indian diversified financial services company headquartered in Mumbai. The organisation was founded by Nirmal Jain. IIFL and its group companies are backed by Canadian investor Prem Watsa, private equity firm General Atlantic and CDC Group, the UK Government's private equity arm. IIFL is ranked among the top seven financial conglomerates in India and as the top independent financial services firm in India in terms of market capitalisation. Nirmal Jain is the chairman of the group, while R Venkataraman is the group managing director and co-promoter.

<span class="mw-page-title-main">Kalyan Jewellers</span> Indian jewellery chain

Kalyan Jewellers is an Indian chain of jewellery showrooms.

<span class="mw-page-title-main">IndiaMART</span> Indian e-commerce company

IndiaMART InterMESH Ltd is an Indian e-commerce company headquartered in Noida. It provides B2B and customer to customer sales services via its web portal. a business-to-business portal to connect Indian manufacturers with buyers.

<span class="mw-page-title-main">Surat Diamond Bourse</span> Diamond trade centre in Gujarat, India

Surat Diamond Bourse is a diamond trade centre, located at DREAM City, Khajod, Surat, Gujarat, India. The Project is accoladed with an IGBC ranking of Platinum Pre-Certified Green Building. It is India's second diamond trading hub and the world's largest corporate building, based at Surat, Gujarat, which is spread across 35.54 acres with availability of 66 lakh Sq.ft. built up area encompassing 4,000 offices for national & international traders. Every office is sighting onto the exquisitely designed landscape courts, which are designed on the concept of Panchtatva

<span class="mw-page-title-main">CaratLane</span> Indian jewelry retailer headquartered in Chennai

CaratLane is an Indian physical and online jewelry retailer, headquartered in Chennai, India.

Svatantra Microfin Svatantra, which means freedom in Hindi, is a mid-size Indian microfinance organisation based in Mumbai. Since receiving a license from the Reserve Bank of India in 2013, Svatantra has provided financial and non-financial solutions to encourage entrepreneurship in rural areas, primarily amongst women.

Nykaa is an Indian e-commerce company, founded by Falguni Nayar in 2012 and headquartered in Mumbai. It sells beauty, wellness and fashion products across websites, mobile apps and 100+ offline stores. In 2020, it became the first Indian unicorn startup headed by a woman.

<span class="mw-page-title-main">Nirav Modi</span> Indian diamond dealer and Main accused in the PNB bank scam

Nirav Deepak Modi is a Belgian businessman and fugitive who was charged by Interpol and the government of India for criminal conspiracy, criminal breach of trust, cheating and dishonesty including delivery of property, corruption, money laundering, fraud, embezzlement and breach of contract in August 2018. Modi is being investigated as a part of the $2 billion fraud case of Punjab National Bank (PNB). In March 2018, Modi applied for bankruptcy protection in Manhattan, New York. In June 2018, Modi was reported to be in the UK where he reportedly applied for political asylum. In June 2019, Swiss authorities froze a total of US$6 million present in Nirav Modi's Swiss bank accounts along with the assets.

Russell Arunbhai Mehta is an Indian businessman. He is the managing director of Rosy Blue India, the Indian arm of the family-owned Indian conglomerate with interests in retail, media, real estate, financial services and diamonds Rosy Blue.

Arunkumar Ramniklal Mehta was an Indian businessman, and head of the family-owned Belgian/Indian conglomerate Rosy Blue.

Vasant Gajera, born on 25 May 1954, is an Indian businessman and philanthropist. He is the founder of Laxmi Diamond Group, a diamond manufacturing and exporting company.

A Fugitive Economic Offender is a legal term in India. It relates to any individual against whom a warrant for arrest in relation to a "scheduled offence" has been issued by any Indian court under the Fugitive Economic Offenders Act. It applies to individuals who either left India to avoid criminal prosecution; or, being abroad, refuses to return to India to face criminal prosecution. The list of Fugitive Economic Offenders currently residing abroad is Pushpesh Baid, Ashish Jobanputra, Vijay Mallya, Sunny Kalra, Sanjay Kalra, Sudhir Kumar Kalra, Aarti Kalra, Varsha Kalra, Jatin Mehta, Umesh Parekh, Kamlesh Parekh, Nilesh Parekh, Eklavya Garg, Vinay Mittal, Nirav Modi, Neeshal Modi, Mehul Choksi, Sabya Seth, Rajiv Goyal, Alka Goyal, Lalit Modi, Nitin Jayantilal Sandesara, Chetankumar Sandesara, Ritesh Jain, Hitesh Narendrabhai Patel, Mayuriben Patel and Priti Ashish Jobanputra.

<span class="mw-page-title-main">Jio Platforms</span> Indian multinational technology company

Jio Platforms is an Indian multinational technology company, headquartered in Mumbai. It is a subsidiary of Reliance Industries. Established in 2019, it acts as a holding company for India's largest mobile network operator Jio and other digital businesses of Reliance.

References

  1. ↑ "What happened when a 3M diamond met its holographic counterpart - Seenspire". 26 September 2016.
  2. ↑ Aiyar, Pallavi (8 November 2009). "Rosy Blue rules the world of glitter". Business Standard India– via Business Standard.
  3. ↑ "ALROSA tied up new long-term agreement with Rosy Blue - Alrosa". eng.alrosa.ru.
  4. ↑ "Gulf Industry Online - Rosy Blue partners Al Zain". www.gulfindustryonline.com.
  5. ↑ "Rosy Blue NV: Private Company Information - Bloomberg". www.bloomberg.com.
  6. ↑ "Rosy Blue 'Shocked' By Belgian Reports About CEO Dilip Mehta". www.idexonline.com.
  7. ↑ "Rosy blue also in HSBC list: Diamond dealers are tax haven's best friends". 6 April 2016.
  8. ↑ "Rosy Blue NV (SH)". www.debeersgroup.com.
  9. ↑ "Karaattaks geschenk voor staatskas". 10 December 2016.
  10. ↑ "RapNet.com - Rosy Blue Expands Cutting Operations in S.A." member.rapnet.com.
  11. ↑ "Rosy Blue - More than diamonds". Rosy Blue. Retrieved 23 March 2018.
  12. ↑ "Rosy Blue N.V. - Dictionary definition of Rosy Blue N.V. - Encyclopedia.com: FREE online dictionary". www.encyclopedia.com.
  13. ↑ "India's six diamond kings: Six entrepreneurs minting money in Rs 70,000 crore industry - India's diamond kings: Six entrepreneurs minting money in Rs 70,000 crore industry". The Economic Times.
  14. ↑ "Rosy Blue N.V - Responsible Jewellery Council". www.responsiblejewellery.com.
  15. ↑ "First Children's Rights and Business Principles Forum in Belgium". 5 December 2012.
  16. ↑ "Rosy Blue - UN Global Compact". www.unglobalcompact.org.
  17. ↑ "Paradise Papers: On all black money lists, leading diamond firm Rosy Blue is back". 8 November 2017.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.