Mumbai: Bollywood actress Shilpa Shetty and her husband Raj Kundra have landed in a legal soup. The actress’ company Satyug Gold Private Limited has received legal notice from The Indian Bullion And Jewellers Association ( IBJA) for non payment of license fees by the company, reported Absolute India.
According to the report, the companies entered into an agreement, and Shilpa’s company had to pay a sum of Rs 25 crore (5 crore per year) to use the name and logo of IBJA in their promotional plan, in February. The plan started using the logos and name of IBJA in March when it was launched. But IBJA announced the first payment of Rs 1 crore in April, and were later intimated that their plan was closing on May 31.
The president of IBJA, Mohit KAmboj, was quoted saying, “Inspite of various requests, they did not pay the dues of Rs 5 crore. We have complained to Economic Offence Wing, L. T Marg police station and the crime branch. We have also sent them a legal notice for cheating and breach of trust.”
The report also stated that, the deal had been launched with a huge press conference, but it did not work out well.
