Karma finally caught up with Kundra: Sachiin Joshi

Slow and steady did win the race for NRI Sachiin Joshi, in a long-standing court battle with Raj Kundra and Satyug Gold. The court directed that Satyug Gold hands over the possession of the gold as well as pay Joshi a sum of Rs. 3,00,000 as cost towards legal proceedings to Joshi.

 

“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,” averred actor-entrepreneur Sachiin Joshi, who, after paying 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.

 

“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! I feel defrauded to say the least. And then I realised that I should stand up against what is wrong as I might be the hope for many others.”

 

As per the court, Satyug Gold was made to deposit the 1kg of gold with the Prothonotary and Senior Master of the Hon. Bombay High Court, who then took custody of the gold and sealed and secured it in the High Court’s strong-room/vault. As Sachiin Joshi was abroad, his counsel requested that the gold be handed over to his representative.

 

As the hearing and final disposal of the arbitration proceedings was in a period of two weeks from the date of receipt of a copy of the Award by the parties and / or their Advocates, the Prothonotary and Senior Master continued to retain the gold bar weighing 1.022 kg in the safe deposit vault opened / obtained in his name in the Bank of India pursuant to the directions of G.S.Patel, J. dated 7th September, 2020.

 

Sachiin Joshi had earlier filed a complaint on January 18th of this year 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.

 

the Claimant has admittedly not incurred any storage charged. In the couse of Cross-Examination, CW-l deposed: "Q.46. Was the gold which was to be delivered to Mr. Sachin Joshi stored anywhere prior to 5th September 2020? Ans. We purchased the gold on 5th September 2020, so it was not stored anywhere prior to that date." 59. The Claimant's own witness therefore has admitted that the Subject Gold was only purchased on 5th September 2020, pursuant to an order dated 4th September 2020 of the Hon'ble Bombay High Court

 

When questioned why he broke his silence on the said case now, Joshi said, “a lot of mudslinging happened on us, where we were expected to pay 25 lakh on a 1.8,57,870 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. We got our 1 kg gold and 3L 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."