Deceptive franchise model of SGF India breaks cover as per the latest reports. The vegetarian restaurant chain SGF India goes through a turmoil as reports brings to the limelight a potential financial fraud going on in the firm for the past couple of years. SGF India franchising model is induced with scams and politics and alleged fund siphoning and the alleged master brain behind it turns out to be Kewal Ahuja SGF, the director of Spice Grill Flame.
The franchising business grows in India at a healthy 30-35% per year and is expected to reach $100 Billion in 2024. More and more people, especially youngsters are joining hands with firms in franchising and it is one of the easiest ways to generate a profit. But the growth of this franchising segment of business also comes with an increase in scams and financial fraud. SGF India is one of those firms, which in public sight is a genuine business, but induces with scams, fraud and politics in the inside.
The franchising model of SGF India promised a sustainable income generation to the franchisees, but later not only the profit was lost, even the invested amount is not returned to the franchisees. Kewal Ahuja SGF fraud dealings goes in many ways including alleged misrepresentation of the business, siphoning of funds, tax compliance irregularities and much more. Reports on the tax filings shows that SGF India has not reported NIL returns in GST and income tax in the previous three years. The firm is also not compliant in the MCA filings as well.
This represents a potential angle of fund misappropriation. SGF has a track record of statutory non-compliance also. Kewal Ahuja SGF 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 Kewal Ahuja SGF fraud, the better being refrained from investing in SGF India, where cheating and doing fraud has been kept as a main criterion of the business.
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