India is often ranked as one of the world’s largest consumer markets. Consequently, it is an excellent site for significant food producers from different countries. The 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%. 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. Franchising in India has witnessed a four-fold growth since 2013 and is estimated at USD 50.4 billion currently.
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 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 these 3 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. SGF has a track record of statutory non-compliance.
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 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.
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