Shilpa Shetty and Raj Kundra face allegations of Rs 90 lakh Bullion fraud: Court orders inquiry

Prithviraj Saremal Kothari, managing director of Riddhi Siddhi Bullions Ltd, approached the special court against Satyug Gold under the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999.
Shilpa Shetty and Raj Kundra

MUMBAI: Police are being ordered by the Mumbai Sessions Court to look into a complaint made against actor Shilpa Shetty, her husband Raj Kundra, and their company Satyug Gold Pvt Ltd for cheating a bullion trader of Rs 90.38 lakh in a gold scheme.

Prithviraj Saremal Kothari, managing director of Riddhi Siddhi Bullions Ltd, approached the special court against Satyug Gold under the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999.

(Also read: Woah! Raj Kundra to act in the film based on his experience in Arthur Road Jail

In the complaint, Kothari claimed that Kundra had introduced a Satyug Gold scheme in March 2014, promising to return gold at the same price after five years.

They claimed that anyone wanting to invest in the scheme would be required to make upfront complete payment of the gold at a discounted rate at the time of applying, and they would be delivered the agreed quantity of gold on the maturity date, the complainant alleged.

Being a bullion trader, Kothari was approached by an employee of the company to invest in the scheme. Kothari alleged that Kundra and Shetty convinced him and assured him that he would get his investment back. Kothari hence invested Rs 90,38,600 in April 2014 and was promised 5,000gm 24-carat gold in April 2019.

Kothari stated that he requested his money in January 2015 after finding out that Satyug Gold had discontinued the scheme. On the date of maturity, he stated, he was assured to receive the gold as promised.

However, the complaint claimed that they still failed to provide the gold even after the maturity. He thus claimed that the accuser had cheated him. Additional Sessions Judge NP Mehta accepted his complaint stating prima facie cognizable offence is made out. In the meantime, the court ordered the BKC police station to investigate the allegations made in Kothari's complaint.

(Also read: Woah! Raj Kundra to act in the film based on his experience in Arthur Road Jail)

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Credits – Free Press Journal

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Submitted by TellychakkarTeam on Fri, 06/14/2024 - 11:11

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