Sachiin Joshi wins case against Raj Kundra and Satyug Gold

Team Udayavani, Jul 22, 2021, 5:54 PM IST

Actor Sachiin Joshi has won a long-standing court battle against Satyug Gold, a gold trading company formerly headed by Shilpa Shetty and Raj Kundra. The Bombay High Court has directed the company to hand over the possession of 1 kg gold to the actor as well as pay a sum of Rs. 3,00,000 towards legal proceedings.

In his complaint, Joshi had said that he had purchased nearly a kilo of gold for Rs 18.58 lakh from the company in a gold scheme in March 2014. However, when the scheme term ended and Joshi sought to collect the gold, the company asked him to pay a penalty of Rs 25,50,000.

“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,” Joshi was quoted speaking to News 18.

He asserted that he was asked to pay Rs 25 lakh to collect Rs 18,57,870 gold after six years of his hard-earned money lying with a company. He added, “Imagine the state of the common man who must have invested believing a celebrity who endorsed a company as its Chairman. I feel defrauded, to say the least. And then I realized that I should stand up against what is wrong as I might be the hope for many others.”

Earlier on January 18, Sachiin had filed a complaint in 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 at the behest of Raj Kundra and Shilpa Shetty who were then, the office-bearers of the company.

Talking about the case, Sachiin said, “A lot of mudslingings happened on us, where we were expected to pay 25 lakh on a 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. “

Calling the allegations baseless and false, he added, “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. 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.”