Alternative Investment
Shilpa Shetty's Satyug offers gold investment plan at Rs50 a day

Shilpa Shetty's new venture, Satyug Gold enables customers to accumulate physical gold in small quantities on a monthly basis for a minimum investment of Rs50 per day

Satyug Gold, a firm promoted by actress Shilpa Shetty and her husband Raj Kundra, has launched a gold systematic accumulation plan ‘Satyug Mera Gold’, wherein customers can buy gold for Rs50 a day.

"Gold has always been an important part of our culture and a safety haven when markets become turmoil. We have seen Gold give good returns in the past years and above all is a very liquid asset, said Shilpa Shetty Kundra, who is also the chairman of Satyug Gold.


According to a statement released by the company, Satyug Mera Gold Plan (SMGP) enables customers to accumulate physical gold in small quantities on a monthly basis through the benefit of 'Monthly Rupee Average Pricing'. Customers can enrol through the company’s website or visit any of the 450 Karvy branches located in 400 locations across the country. Gold coins of 24k with 999-purity of one gram, 2 grams, 5 grams, 10 grams, 20 grams and 50 grams are available for sale. The monthly instalment can range from one to five years.


Raj Kundra, chief executive of Satyug Gold, said the company would offer gold at a price lower than the top five leading jewellers and banks, as it sources gold directly from miners in South Africa, Peru and Ghana. The bullion is processed at the company’s refinery at Navi Mumbai. “We do not charge any processing charges or making charges, except for the tax levied by the Government,” he added.


The company has tied up with IDBI Trusteeship Services, a joint venture promoted by IDBI Bank, LIC, GIC and Karvy Computershare for processing investor applications. Brinks India would provide the logistics and vault services.




3 years ago

Wont this scheme qualify as a Collective Investment scheme and monitor bt SEBI.

Hit Kit Global: SEBI attaches bank, demat accounts of four entities

SEBI said Jayesh C Shah and Jaiprakash Jain executed synchronised trades in shares of Hit Kit Global Solutions creating artificial volumes and were aided by Galaxy Broking and Shree Hari Hira Stock Broking

Market regulator Securities and Exchange Board of India (SEBI) has ordered attachment of bank and demat accounts of four entities to recover dues worth about Rs30.66 lakh in a case related to fraudulent trading in shares of Hit Kit Global Solutions.


SEBI has to recover Rs11.38 lakh from Jayesh C Shah, Rs8.55 lakh from one Jaiprakash Jain, Rs7.17 lakh from Galaxy Broking and Rs3.54 lakh from Shree Hari Hira Stock Broking.


The dues include penalties imposed on the entities for violating norms related to prohibition of fraudulent trading activities in the capital market.


It was found by SEBI that Shah and Jain had executed synchronised trades in shares of Hit Kit Global Solutions that had created artificial volume in the scrip of the company as well as had manipulated its share-price.


Besides, Galaxy Broking and Shree Hari Hira Stock Broking had aided and abetted their clients in the manipulative activity thereby violating prohibition of fraudulent trading norms as well as stock brokers rules.


In four separate attachment orders dated 7th July, SEBI has asked banks to attach all accounts including lockers held by the entities.


Similarly, the regulator has directed depositories - NSDL and CDSL - to attach all demat accounts of the defaulters.


SEBI informed the banks and the depositories that there was “sufficient reason” to believe that defaulters may dispose of the amounts in the accounts and “realisation of amount due under the certificate would in consequence be delayed or obstructed”.


The regulator has also asked banks to attach the lockers held by the entities as well as “all other amount/proceeds due or may become due to the defaulters or any other money held or may subsequently hold for or on account of defaulter”.


It has further ordered the banks and depositories that with immediate effect no debit would be made in these accounts until further directions from the market regulator. However, the credits, if any into the account maybe allowed, SEBI said.


The watchdog has also asked for various details of the accounts held by the entities including account statements.


The price is (not necessarily) right
Some of the largest retailers from the US have recently come under fire for allegedly using deceptive pricing tactics to get folks through their doors and – once inside – to the checkout line with the most items

It’s all rosy until you reach the register. 
If you are searching for a summer sale, you should know that some of the country’s largest retailers have recently come under fire for allegedly using deceptive pricing tactics to get folks through their doors and – once inside – to the checkout line with the most items.
Here are five examples:
Hobby Lobby
You’ve heard of “The Song That Never Ends.” Well, this was “The Sale That Never Ends.” That was, however, until the attorney general’s office found out.
Hobby Lobby reached a $220,000 settlement with the New York Attorney General after an investigation revealed that the retailer advertised certain items as sale items for more than 52 consecutive weeks, according to a June 2014 statement from the attorney general.
“Ultimately, a permanent sale is no sale at all,” New York Attorney General Eric T. Schneiderman said in the release.
The deceptive advertising allegations against Hobby Lobby violated New York’s General Business Law, which prohibits never-ending sales, the statement said. As part of the settlement, the arts and crafts chain was ordered to contribute $138,600 in supplies to public schools and change its advertising practices over the next 60 days.
Banana Republic
(Banana Republic’s Spring 2014 ad via YouTube)
A California man has accused Banana Republic of “luring” customers – “hundreds of thousands” of customers – via the false advertising of storewide sales in the storefront windows of its shops.
Sajid Veera’s lawsuit, filed April 2014 in Los Angeles, alleges that Banana Republic “deceives customers and cheats its competitors by luring consumers (with) advertisements representing all of the products in the stores are on sale,” when in reality only certain items have been marked down.
Customers only realize the real price at the register, alleges the lawsuit, which claims that Banana Republic violated state laws and seeks to recoup more than $10 million for shoppers in California.
The price on the shelf wasn’t matching up with the price at checkout – a recurring theme at several stores in Missouri with point of sale overcharges ranging from a few cents to more than $15.
That’s what Missouri Attorney General Chris Koster alleged in a civil lawsuit against Walgreens filed last summer and settled last month. Among other false advertising allegations, the suit alleged:
From at least 2012 to the present, Walgreens has consistently and systematically displayed inaccurate sales tags, overcharged customers, failed to remove expired sales tags, failed to consistently ensure the price charged is the same as the price advertised, and used misleading or confusing in store-signs (sic).
The settlement — designed to put a lid on deceptive pricing — in part requires that Walgreens pay for an independent auditor to audit at least 25 percent of its Missouri stores each quarter for the next three years.
“My hope is that the combination of audits, financial penalties, and public shaming will give Walgreens executives a strong incentive to clean up their act,” Koster said in a statement announcing the sweeping settlement.
Jos. A. Bank

(Jos. A. Bank’s “four suits for the price one” commercial via YouTube)
Jos. A. Bank is well known for taking buy-one-get-one to the next level – to the point that the menswear chain became the butt of a Saturday Night Live skit lampooning its buy-one-get-three-free deal.
“I spend a lot of my time cleaning up messes so I need something that’s absorbent and affordable,” says a mom in the sketch. “So what do I reach for? A suit from Jos. A. Bank. With their innovative buy-one-get-three-free pricing, a suit from Jos. A. Bank is effectively cheaper than paper towels.”
But behind the laughs are allegations in several states including New York, Georgia and Florida and in private lawsuits that the clothing retailer misleads customers with its sales practices.
According to one private lawsuit brought against Jos. A. Bank in Ohio last summer:
Jos. A. Bank’s “buy one get one free” suit offers and other similar promotions require consumers to buy one “regular price” suit to get one (or more) free, but the stated “regular price” is a fabrication. It is a price no consumer has actually ever paid for a Jos. A. Bank suit not in connection with some sale or discount. … The Ohio Attorney General has expressly declared such practices “inherently deceptive” …
Jos. A. Bank has been the target of deceptive pricing allegations going back at least 10 years. In 2004, the company agreed to pay $425,000 to settle charges by then-New York State Attorney Eliot Spitzer.
Every consumer loves a bargain but there are rules retailers have to follow when advertising deals. And wasn’t following the rules, a California court ruled in February 2014.
The case, which resulted in a $6.8 million civil penalty for the online company, centered on Overstock’s deceptive advertising of the savings a customer would get on an item as compared to its reference price, or MSRP, that the company displayed near it.
The court found that the references prices were created with the use of formulas that were based on similar products, not the actual product being offered for sale, and that this fact was not adequately disclosed to customers.
Here are six examples of how Overstock ripped off consumers.
The FTC declined to comment for this article.
Learn more here about pricing issues. 


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