A fake video on youtube caused Kalyan Jewelers 500 crore loss

A fake video on youtube caused Kalyan Jewelers 500 crore loss
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Kalyan Jewellers is a Kerala-based jewelry retailer with more than 125 showrooms in India and the Gulf and 650 mini-stores in India. The brand has several high profile ambassadors, including Amitabh Bachchan, Katrina Kaif, and Nagarjuna.

The jewelry company has filed a defamation case in the high court, says that fake videos claiming to show the seizure of fake gold at its showrooms have been shared on social media websites such as YouTube. The fake videos are part of a malicious campaign against Kalyan Jewellers by business rivals, the brand further claims in its petition. Terming the campaign as defamatory and misleading, Kalyan alleges that it has suffered losses running into more than Rs 500 crores.

The video was uploaded under the name of Kuwait News agency and Kuwait Ministry of Commerce and Industry on a YouTube channel named ‘Marutham Channel’.

The fact of the matter is that the video which shows that the ‘kalyan jewelers are selling a fake gold and police arrested the owner’ is actually a routine inspection carried out by the Kuwait ministry in the showroom of the company as well as at the showrooms of other jewelers.

It has alleged that its business rivals is spreading false stories and forged electronic records depicting them as cheaters or defrauders with the help of some persons. In March, five Indian expatriates were booked by the Dubai Police on charges of cybercrime and abuse via the internet for spreading false information about the company.

SIASAT NEWS