Kalyan Jewellers claims Rs 5-bn hit due to a spate of fake messages, videos

Kerala-based Kalyan Jewellers claims to have taken a hit of Rs 5 billion due to a spate of fake messages and videos on social media about the brand and its products.

The chain, which operates 125 retail stores and has presence in the West Asia, too, has approached the Kerala High Court claiming the company suffered a loss of Rs 5 billion in tangible and intangible terms. The petition calls upon the court to issue notices to the government to take “appropriate steps” to regulate the functioning of social media platforms such as Google, Facebook and WhatsApp. It has also asked the court to issue notices to these companies to remove all links, URLs and videos that are misleading.

The videos apparently show inspections being carried out at the brand’s Kuwait stores and allegedly show the owner being arrested for selling fake ornaments. These videos started doing the rounds last year along with some that show stores that aren’t even Kalyan Jewellers’, the company said.

In yet another video, it was claimed that the company’s chairman T S Kalyanaraman had been arrested. The company’s legal head Mahesh Sahasranaman said the videos portray a wrong picture, as they only show a routine inspection, an industry norm. “We didn’t get any show cause notice from the government about any issue and got to know only when the video became viral.”

The firm has blamed a section of unnamed competit...

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