Mumbai: Shilpa Shetty, Raj Kundra Face ₹90L Bullion Fraud Charges; Court Orders Probe

Mumbai: Shilpa Shetty, Raj Kundra Face ₹90L Bullion Fraud Charges; Court Orders Probe

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

Charul Shah JoshiUpdated: Friday, June 14, 2024, 08:42 AM IST
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Bollywood actress Shilpa Shetty along with her husband Raj Kundra spotted outside the new Bastian Restaurant, at Lower Parel in Mumbai | ANI

Mumbai: The Mumbai Sessions Court has directed police to investigate a complaint against actor Shilpa Shetty, her husband Raj Kundra and their company Satyug Gold Pvt Ltd for cheating a bullion trader out of Rs 90.38 lakh in a gold scheme.

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

In the complaint, Kothari alleged that Kundra had in March 2014 announced a scheme by the name Satyug Gold wherein they offered to give back gold at the same rate 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.

Shilpa & Husband Raj Convinced Kothari To Invest Huge Amount

Being a bullion trader, Kothari was approached by an employee of 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 said that in January 2015, he learned that Satyug Gold had discontinued the scheme, and so he demanded his money. He claimed that he was assured that he would receive the gold as promised on the date of maturity.

The complainant, however, stated that even after maturity, they failed and neglected to deliver the gold. Thus he alleged that the accused cheated him.

Additional Sessions Judge NP Mehta, while accepting his complaint, said prima facie cognizable offence is made out. The court then directed the BKC police station to investigate the allegations made in the complaint, filed by Kothari.

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