A patch of gold in the prospector’s pan

Not standing up against an unfair wrongdoing, is synonymous to silently supporting it. And just the reverse, is letting go, a good turn unappreciated. In the month of May 2014, I’m not too sure of the month, I invested around 34,000 INR, in Indian actress Shilpa Shetty’s ‘Satyug Gold’ Purchase Plan. According to their scheme, I paid up 63% of the then gold price and taxes, (which was around 25,650 INR) in advance, and desperately waited for 5 long years, for my 20 grams 24k gold coin.

Shilpa Shetty, the brand ambassador of Satyug Gold then, also held 99% of the company that time. It had a co-branding tie-up and trademark license agreement with the Indian Bullion and Jewellers Association. In their web advertisement, the promoters, Shilpa Shetty and her husband Raj Kundra guaranteed every customer purchase.

At first, I reluctantly invested 34K in it for 20 grams. A week later I decided to invest more. I remember they had a purchase limit for individuals under the discount scheme. I think it was 50 grams, though not very sure. The second investment couldn’t be, as the discount offer was already over. Oops!! However little, it is always good to make careful investments. Also I wish to mention, I was reluctant in the beginning, as the scheme was introduced to me, by my legally wedded husband. I believe I work better, with my money, and his money, and anyone else’s money, when it comes to investments. Also earlier that very year, I had made a few financial blunders (recommended by the legally wedded husband). So, it was something like once bitten and twice shy.

Since April 2019, I started nagging my husband, to enquire about the investment. Satyug was probably not be in conformity with the securities law and the Forward Contracts Regulation Act, according to regulatory officials. The legally wedded husband called the company helpline a couple of times without any successful response. Pretentiously , I consoled him, a written off investment of 34K would not matter. The amount is not very huge. Also I’m more of an artist than a business person. I don’t play to win always, sometimes it’s just the nerve-racking adrenaline rush and a racing heart, that makes the game worth playing. I would be happier writing poetry or singing on a small stage than selling food, clothing or land and making a bigger buck. It’s ok, if the 34 thousand is gone with the wind. Also, being a no regrets person, I wouldn’t have cried over it. I wouldn’t have written about it, as it would not affect my mind. I would have simply slept over it, like the Modi government over the economic slow down data.

The husband politely tweeted Shilpa Shetty over Helpline numbers not working. Within a couple of days, the web site was updated with new contacts. Mr. Prasad Agaru took care of the follow up. It did take a few months, and we had to collect the coin from their Bombay office, costing us another 7 grands, at least the famous Kundra couple kept their promise. If they hadn’t I would not have sued or abused them. By honouring their word they earned my respect. Though music turns me on, happy with the glittering gold for the time being.

Copyright © Neha Jhunjhunwala Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Neha Jhunjhunwala, https://thoughtsjustcurious.wordpress.com with appropriate and specific direction to the original content

https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/satyug-gold-a-company-promoted-by-shilpa-shetty-raj-kundra-offers-up-to-37-discounts-on-gold-bars/articleshow/34468455.cms

http://timesofindia.indiatimes.com/city/mumbai/EOW-lens-on-Shilpa-Shetty-firm-for-gold-discount-scheme/articleshow/44954623.cms

https://www.indiatoday.in/movies/bollywood/story/shilpa-shetty-joins-gold-rush-launches-jewellery-firm-satyug-gold-187416-2014-04-03

Published by Neha Jhunjhunwala

Sparkling storyteller, Singer, Writer, newly a reader, Arm Chair Rebel and ‘Secretly a Mermaid’

Join the Conversation

6 Comments

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Create your website with WordPress.com
Get started
%d bloggers like this: