The Bombay high court on 4th September asked Satyug Gold Pvt. Ltd., a company of which Shilpa Shetty and her businessman-husband, Raj Kundra, were once a part, to forthwith deposit the 1 kg. disputed gold physically with the court. Producer Sachin Joshi, who had invested in the scheme after Shilpa and Raj proposed the investment scheme to him, took the matter to court when the company failed to deliver him the promised 1 kg. of gold after five years. Based on the scheme, Joshi paid the company over Rs. 18 lakh in March 2014. As per the scheme, he was to get a Satyug Gold Card which could be exchanged for the 1 kilogram gold five years later — in March 2019.
However, ever since the scheme matured, there was no trace of the company. Justice Gautam Patel of the Bombay high court initially (in April 2020) directed the company to not sell or create any right in 1 kg. gold claimed by Joshi. After the defiance on the part of the company, the court decided to put strict terms on SGPL.
The company, through its director, Ganpati Choudhary, wrote to Sachin Joshi on 8th August, 2020 in almost the same terms as the earlier communication of 13th March, 2020. It asked Joshi to collect the gold from the office and to pay a penalty of Rs. 25,15,000. It made no mention of the court order dated 9th April, 2020 and proceeded on the footing that nothing had happened since the earlier communication. Joshi had also filed a criminal complaint against Shilpa and Raj in January this year. He knocked the doors of the court again after he received a letter from SGPL in March this year, claiming that it had been trying to contact him and since he had failed to collect the gold, he needed to pay a penalty of Rs. 5,000 per day since March 2019.