EOW lens on Shilpa Shetty firm for gold discount scheme

Written By Unknown on Selasa, 28 Oktober 2014 | 22.23

MUMBAI: Actor Shilpa Shetty's firm, Satyug Gold, has come under the city economic offences wing (EOW) scanner for its schemes of selling gold at discounts. The EOW has initiated a preliminary enquiry (PE) into the firm's scheme on a reference from market regulator Sebi. While Shetty is one of the directors of the company, her husband Raj Kundra is the chief executive officer.

A police source said one Bhavik Mehta had given an application to Sebi which was forwarded to the EOW. The complainant had apprehension that the scheme business model was not realistic. Although the applicant, after meeting Satyug's management, withdrew the application, the EOW is continuing its inquiry, taking it as suo motu.

Mehta had said under Satyug's scheme, a buyer gets a discount between 15% and 35% on the market price of gold released by the Indian Bullion & Jewellery Association on the day of the purchase, but the gold is delivered after two to three years from the date of booking. Satyug Gold runs a series of gold jewellery shops In Mumbai, Pune, Ahmedabad, Jaipur, Ludhiana and Chandigarh. A source said Mehta has said as per the scheme, the customer can buy 10gm of gold by paying 85% of the market price for delivery after two years or by paying 76% for delivery after three years.

Mehta raised apprehension that in a hypothetical situation, if the firm gets deposits of up to Rs 5,000 crore under the scheme and there is an escalation in gold price at the deliverytime, would it be feasible to deliver the gold and even if it does, how would it sustain those losses? The applicant had written to Sebi to probe to find out if the firm has worked out a realistic model and whether it had obtained approvals from all government departments.

Shetty, through a text message, said: "That was two weeks ago. The main person met Raj and cleared the misunderstanding. This was related to an offer we launched for a short period earlier this year. It was a special offer. Now we have launched satyugmgp.com, a gold plan backed by IDBI Trusteeship...."

http://timesofindia.indiatimes.com/followceleb.cms?alias=Satyug Gold,gold discount scheme,Economic Offences Wing

Stay updated on the go with The Times of India's mobile apps. Click here to download it for your device.

Anda sedang membaca artikel tentang

EOW lens on Shilpa Shetty firm for gold discount scheme

Dengan url


Anda boleh menyebar luaskannya atau mengcopy paste-nya

EOW lens on Shilpa Shetty firm for gold discount scheme

namun jangan lupa untuk meletakkan link

EOW lens on Shilpa Shetty firm for gold discount scheme

sebagai sumbernya

0 komentar:

Posting Komentar

techieblogger.com Techie Blogger Techie Blogger