Kewal Ahuja Founder of SGF, India has always remained as an emerging marketplace for franchise business. Nowadays, more and more are starting to trust the ownership of Franchise and investing their hard-earned money with an expectation of getting a sustainable income for the months during the year. Covid has added fuel to this thought, because franchise ownership is an easy way to make money during these times.
Franchising in India has witnessed a four-fold growth since 2013 and is estimated at USD 50.4 billion currently. Delhi NCR’s bustling markets greets you with the choicest of top brands. People including corporate professionals as well as an innocent salaried middle-class youth have started to show more and more interest investing in the franchise business.
SGF’s Kewal Ahuja is one among those franchisee owners who has grown up well in this segment of business. He has become an owner of franchisee from few to many, from nowhere to everywhere. Paid PR and advertisement clean his image on media and social media. The story behind the curtain, SGF owner Kewal Ahuja SGF 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 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. So, they joined hands with SGF franchise. Abruptly high money as fee was charged from the people.
Large sum was collected as franchise fee by SGF and this amount 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. This report highlights the compliance irregularities and potential financial fraud. The facts discovered after a deep analysis of SGF and its sister concern company highlights that, both SGF and spice are registered at same address and Kewal Ahuja remains as key management in both the company. Both are related parties and spice is a sister concern of SGF.
SGF in all the previous three years have reported NIL returns in GST and Income tax. However, the sister concern’s reported top line is mentioned above. This is a potential angle of fund misappropriation. Kewal Ahuja is also the Treasurer of BJYM Delhi Pradesh and is focused on becoming a leading politician. Therefore he also has his political influence to his advantage in cheating people or allegedly conducting fraud. All the people concerned and intending to invest in SGF should be cautious of this fraud, the better being refrained from investing in SGF owned by Kewal Ahuja, where cheating and doing fraud has been kept as a main criterion of the business.
