Raj Kundra's fortunes looks like has taken a big hit as the controversial businessman has now lost a case fought by actor Sachiin Joshi. Last year, Joshi claimed in a police complaint that he was reportedly lured and then cheated by SGPL's 'Satyug Gold Scheme', launched around 2014. Joshi had odged 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. According to Joshi, under the five-year gold plan, sold as 'Satyug Gold Sheme' the buyer was offered a 'Satyug Gold Card' at a discounted rate and promised a certain fixed quantity of gold redeemable after a five-year period. However, when Joshi attempted to redeem his one-kilo golden asset on the due date in March last year, he discovered that the SGPL office in Bandra Kurla Complex, suburban Mumbai, was shut with no employees or representatives available at its address. Upon enquiring he learned that the office had been closed down a long ago, the SGPL website showed a new office address, at Shalimar Morya Park in Andheri west. When Joshi's team visited the new office, they were informed that the addressed did not belong to SGPL.
From thereon, the actor was involved in a legal battle against Kundra now, court has directed that Satyug Gold hand over the possession of the gold as well as pay Joshi a sum of Rs. 3,00,000 as a cost towards legal proceedings to Joshi.Talking about his legal battle against Raj Kundra and Satyug Gold, Sachiin said, "My legal battle was merely a representation of many of the investors of Satyug Gold who have invested in the gold scheme at a discounted rate, only to never receive the gold." The actor-entrepreneur had paid Rs 18,57,870 on March 25, 2014, had been asked by the then Shilpa Shetty - Raj Kundra promoted Satyug Gold to pay a penalty of Rs. 25,50,000 in order to collect the gold for which an amount of Rs 18,57,870 had already been paid to them six years ago.Explaining the situation further in the case, Sachiin added, "I was asked to pay Rs 25 lakh to collect Rs 18,57,870 gold after six years of my hard-earned money lying with a company. Imagine the state of the common man who must have invested believing a celebrity who endorsed a company as its Chairman!” He said that he felt 'defrauded' and later realised that what has happened with him, may happen with others also.On January 18 this year, Sachiin had filed a complaint at Khar Police Station, Mumbai, under Sections 406, 409 and 420 of the IPC for the alleged fraudulent representation and nonreceipt of gold after six years of making the payment to Satyug Gold. Sachiin claimed that he made the payments at the behest of Raj Kundra and Shilpa Shetty who were then, the office-bearers of the company.
The actor also revealed why he spoke up on the said case now. Sachiin said that a lot of mudslinging had happened with them. He said, "A lot of mudslinging happened on us, where we were expected to pay 25 lakh on an 18,57,870 lakh gold purchase. The case turned when they were asked to hand over the gold and they ended up purchasing it from Anmol Jewellers and attaching the bill. Which by fault means that there was no question of storage charges as there was no gold with Kundra and Satyug Gold in the first place. And, these so-called ‘false and baseless allegations’ by us came true. At Satyug Gold, they were so busy fulfilling orders of each and every client that they forgot mine." Talking about how the case came in his favour, Sachiin added, "We got our 1 kg gold and 3 lakh of fine that they had to pay us for making us go through this legal process where they were at fault since the very beginning and yes about the cheque bounce case, we will win that too as it was stopped not bounced as we didn’t see any transparency in their dealings. I am glad karma finally caught up with Kundra."