Kewal Ahuja Franchising Fraud in SGF India: Kewal Ahuja, Director Allegedly Involved in Siphoning of Funds
Kewal Ahuja , director of SGF is one among them who misrepresented his business model to the franchisees, Franchising in India has witnessed a four-fold growth since 2013 and is estimated at USD 50.4 billion currently. During COVID, most of the corporate professional tried their hands on opening an own business specially food and beverage industry. Some businessmen create modus operandi to fraud innocent investors to dupe their money by selling their franchise. SGF was incorporated dated January 29th, 2019, with the main objective of providing food services and their ancillary objective included the business activities related to this industry and having Liaison offices and services rendering. Kewal Ahuja SGF , director of the firm, misrepresented the business model to the franchisee and promised higher returns which turned out to be not true. The fee collected by SGF, was not reported to regulators such as Income Tax Department and GST Council under regulatory filings. SGF...