In 1942, Meda A. Balanagasunderasen Chettiar and E.K.R. Meenakshisundharam Chettiar started a jewellery store in Dindigul and named it Vasavi Jewellery Mart. It was a humble beginning in a 400 square feet space, where they sat on the floor and conducted their business; that was how things were done in those days.

After the death of Meenakshisundharam Chettiar, his brother, Balagurumurthi Chettiar, joined the business. In time, Balanagasunderasen Chettiar 's son, Meda B. Nithyanandam and Balagurumurthi Chettiar's son, Dhinakara Gupta, took over the reins of Vasavi Jewellery Mart.