Wednesday, January 20, 2021
Home News Reports NRI businessman lodges complaint against Shilpa Shetty and Raj Kundra for allegedly cheating investors...

NRI businessman lodges complaint against Shilpa Shetty and Raj Kundra for allegedly cheating investors in “Gold Card Scheme”

Shilpa Shetty and her husband Raj Kundra were directors of the Satyug Gold Pvt. Ltd., which had launched the scheme

An NRI businessman named Sachin Joshi, who is currently residing in Mumbai, has lodged a complaint of cheating and fraudulence against actress Shilpa Shetty and her husband Raj Kundra. Joshi claimed that he was duped by both when they were directors of the Satyug Gold Pvt. Ltd., a gold-trading company.

Joshi has lodged a criminal complaint of cheating, fraud and other charges against Shilpa Shetty, Raj Kundra and officials of SGPL such as Ganpati Chaudhary, Mohammed Saifi, and others with the Khar Police Station in Mumbai.

The NRI has claimed in the police complaint that he was duped by SGPL’S ‘Satyug Gold Scheme’ that was launched in 2014. Joshi noted that under a five-year gold plan, the buyer of the gold which was sold under the ‘Satyug Gold Scheme’ was offered a ‘Satyug gold card’ at a discounted rate and promised a certain fixed quantity of gold redeemable after a five-year period.

As per Raj Kundra’s statements at the ‘gold dream’ launch, an investor who bought a certain sum of gold at the then-current rates with full advance payment will be entitled to ‘Satyug gold card’, that can be redeemable in stages with attractive discounts–15% after two years, 26% after three years, 30% after four years and 37% after five years.

Joshi’s spokesperson told IANS that he had purchased One kg gold for nearly Rs 18.58 lacs in March 2014 at then prices. It would be redeemable on or after March 25, 2019, at the promised discounts of the Satyug Gold Card.

The spokesperson explaining the scheme asserted that at current rates, the original investment would have fetched around Rs 44 lacs or more than double as today the gold prices crossed the Rs 4.4 million per kg mark.

When Joshi went to redeem his one-kg golden asset on the due date in March 2019, he found that the SGPL office in Bandra Kurla Complex in Suburban Mumbai was shut with no employees or representatives available there.

Upon enquiring, Joshi learned that the office of SGPL had been shut long ago, the website showed a new office address that is at Shalimar Morya Park in Andheri West. On visiting the new office, they were informed that the address did not belong to SGPL. After frequent searches on websites, Joshi eventually got the same response everywhere that office from where he bought gold don’t belong to SGPL.

In November 2019, Joshi’s representative happened to meet one of the company officials at the Malad West address who claimed that it was not possible to redeem the claim as the company was processing multiple claims, and suggested he should return in December 2019.

Joshi was more shocked after he searched on the website of the Ministry of Corporate Affairs when he learned that Shetty and Kundra had resigned as directors of SGPL in May 2016 and November 2017 respectively.

Joshi said, “It became clear from all these facts that SGPL was a fraudulent entity being used to run the fake ‘Satyug Gold Scheme’ using the name of celebs like Shilpa Shetty. I have suffered a loss of Rs 18.58 lakh on my gold investment.”

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

 

Related Articles

Trending now

‘Will implemented changes to address concerns raised against Tandav, thank Ministry of I&B for guidance,’ says Director Ali Abbas Zafar: Details

Ali Abbas Zafar, the director of Tandav, has announced that the makers of the controversial web series will implement changes.

SP chief Akhilesh Yadav tries to cash in on India’s great cricket victory, leaves netizens in splits with his bizarre poll promise: Details

Akhilesh Yadav posted a rather bizarre tweet promising to recognise "Tennis Cricket" if it is elected to power.

Rahul Gandhi lies to claim PM Modi has no geopolitical understanding, Surjewala declares himself Joe Biden

Rahul Gandhi lied that PM Modi had endorsed Donald Trump's candidature for the 2020 US presidential elections

The paper-tigers of the Indian comedy circus: How mocking Hindus is a free hit but other faiths is a no-go

Indian comedians have displayed evangelical zeal in poking fun at Hindus and their faith but they have not exhibited the same alacrity in sneering at Islam and Christianity

Brisbane Test: Stadium reverberates with chants of ‘Bharat Mata ki Jai’, Australian coach says can’t underestimate Indians

The loud cheer and the subsequent sloganeering reverberated in the stadium that even the audience, watching the live telecast, had a 'goosebump' moment.

How this New Yorker Article represents Deep-Rooted White Western Racism against ‘Brown Indians’

The New Yorker published an article by Bill McKibben, titled – Gandhi, History, and the Lessons of the Events at the Capitol.

Recently Popular

The hidden chats in the TRP Chargesheet that nobody is talking about, not even the police: India Today and BARC

In the TRP case chargesheet, pages of personal chats between Arnab Goswami and the ex-BARC CEO Partho Dasgupta have been added

‘Madam Chief Minister’ poster row: Bhim Sena threatens to cut off Richa Chadha’s tongue, actress apologises for poster

The poster of 'Madam Chief Minister' showed Richa Chadha holding a broom. Many have called it an offensive stereotyping of the Dalit community.

British-Pakistani singer Zayn Malik says he loves India and fans can’t keep calm

Recently, Zayn Malik was heard singing Mohammad Rafi's Chaudavi Ka Chand in the track Tightrope.

‘Jack Ma is safe and sound’, is ‘laying low’ claims founder and chairman of equity firm Primavera Capital Group

Days after his unflattering opinion of the Chinese authorities, Alibaba founder Jack Ma went mysteriously missing

While Times Now goes hammer and tongs after Arnab Goswami, here is what Times of India published ahead of air-strike

The Arnab Goswami private WhatsApp chats leaked by Mumbai Police have created quite the storm.

‘Took his penis out and asked me to feel it’: Actress Sherlyn Chopra accuses Sajid Khan of sexual harassment

Sherlyn Chopra has come forward and alleged that Sajid Khan took his penis out of his pants when she went to meet him in 2006
- Advertisement -

 

‘Will implemented changes to address concerns raised against Tandav, thank Ministry of I&B for guidance,’ says Director Ali Abbas Zafar: Details

Ali Abbas Zafar, the director of Tandav, has announced that the makers of the controversial web series will implement changes.

SP chief Akhilesh Yadav tries to cash in on India’s great cricket victory, leaves netizens in splits with his bizarre poll promise: Details

Akhilesh Yadav posted a rather bizarre tweet promising to recognise "Tennis Cricket" if it is elected to power.

‘Today Malaysia kept our aeroplane, tomorrow someone will keep the PM over non-payment of loans’: Pakistani lawmaker takes a dig at Imran Khan

The Pakistan lawmaker asserts that the day is not far when the Prime Minister will be detained for non-payment of loans.

Kerala: Police registers 32 cases against 44 men for molesting a 17-year-old girl for over five years

Kerala police registered 32 cases against 44 men for molesting and raping the 17-year-old girl over five years.

Uttar Pradesh: Yogi Adityanath govt takes back Azam Khan’s Jauhar University land

Some conditions were set at the time of the sale of this particular land, which the Jauhar University trust has flouted.

Woman accused of stealing Nancy Pelosi’s laptop during Capitol Hill Riots arrested, suspected of trying to sell it to Russians: Details

The woman, identified as one Riley June Williams, was arrested on Monday from the Middle District of Pennsylvania.

‘Comedian’ uses Kashmiri Pandit genocide to peddle propaganda about Munawar Faruqui

Samay Raina posted a tweet trivialising the horrors faced by exiled Kashmiri Pandits to oppose incarceration of Munawar Faruqui

West Bengal CM Mamata Banerjee says she will ‘send people to disturb BJP meetings’: Here is what happened

Mamata Banerjee claimed that Bharatiya Janata Party (BJP) is sending its workers to Trinamool Congress's (TMC) meeting

Padma Shri awardee UK MP moves motion to commemorate 31st anniversary of the genocide of Kashmiri Pandits

Conservative MP Bob Blackman tabled a motion in the UK Parliament, commemorating the 31st anniversary of the genocide of Kashmiri Pandits in the Valley.

Food subsidy at Parliament canteen has been completely removed: Lok Sabha Speaker Om Birla

Last year too, the Members of Parliament, by a consensus, had decided to do away with food subsidy at Parliament canteen

Connect with us

245,563FansLike
496,912FollowersFollow
22,800SubscribersSubscribe