Kewal Ahuja SGF Fraud: Truth Uncovers As More Investors Shares Franchising Details
Pandemic was a time when we saw all kinds of new business plans rising up in the market like mushrooms in rain. During the pandemic period, majority of the people were asked to leave jobs or work from home. The people who were being told to leave their job or lost their jobs during this pandemic, were in need of finding an option to get their livelihood generated by some or the other means of business.
This was the time when franchise business also gained momentum in India. The Indian economy is growing at the fastest rate, and its middle class is growing at the fastest rate. The food industry in India is expanding, and analysts project that it will expand at a growth rate of 10%. The franchising business is growing at a healthy 30–35% per year and is expected to reach $ 100 Billion in 2024. Food franchises in India are also the new talk of town.
Every business field have some hidden traps here and there in them. Fraud in food franchising is also one such trap that have drastically increased in India. Kewal Ahuja’s Spice, Grill, Flame is one such restaurant chain that have deceived many innocent people in the name of franchising.
Food franchises enjoy a large amount of popularity, which translates into financial success for the owners of these businesses. On the other hand, picking the incorrect one will cost you both time and money. The story behind the curtain, SGF owner Kewal Ahuja has played so smartly and wittily here. He presented this business to the people in such a way that it had looked so tempting & lucrative business with high return value in minimum frame of time. High returns & more than a sustainable revenue generation were offered by SGF -Kewal Ahuja in his 2 modules of business FOFO & FOCO.
The high amount of money that was charged as fee from the people was not reported to regulators such as Income Tax Department and GST Council under regulatory filings. SGF is non-compliant in MCA filings as well. A deep analysis has been done of SGF and its sister concern company highlights the fact that both SGF and spice are registered at same address and Kewal Ahuja is the management personnel for both the companies. It is also evident from the reports that SGF India had filed zero returns in the previous financial years.
More details reveal about the Kewal Ahuja SGF fraud reveals that the issue ranges from tax irregularities to illegal fund siphoning and misappropriation. Kewal Ahuja, other than being the personnel of this company is the BJYM Delhi Pradesh treasurer. He also uses his political influence in covering issues related to the fund siphoning.
"It's alarming to see how many businesses have suffered under Kewal Ahuja's management. Something needs to be done to stop him.
Kewal Ahuja, a fraudster associated with SGF, has shut down another restaurant within just 6 months in Sector 10 Dwarka. It appears that multiple restaurants have closed over the past year without any public acknowledgment from him.