The note ban effected a lot of people in India. One of the majorly disturbed ones were the richer classes. The rising companies of India also faced a little side tracking. Raj Kundra and Shilpa Shetty’s company also faced many issues.
Raj Kundra was the CEO of Best Deal Tv. After demonetisation, many problems arose for the company. The company works from seller to seller client ship. People associated with them complained about late payments.
Raj Kundra and Shilpa Shetty’s company shutting down abruptly.
According to the Economic times, Raj Kundra declared the resignation on 15th December. He said”, I am officially resigning from the post of CEO of Best Deal TV. Note ban decision was a great thing for the country, but unfortunately it was bad for my company.
The COO of the company, Hari Trivedi said that due to the demonetisation cash on delivery deals went in huge loss. Even people with money hesitated to pay in cash. Due to this the production money was inserted from the company’s previous incomes. Slowly, the profits vanished and we went into huge losses.
It was an unavoidable situation to close the company. Some of the company’s client vendors told that the company did not pay its dues since January 2016 itself. The company was going into a huge loss anyway. The demonetisation step triggered their decision.
Though, the demonetisation affected many people in bad ways, it did help the nation after wards. The black money is least in the country now. Digital currency became the new way of money transactions. India is slowly becoming cashless successfully. We should promote this even after these incidences. There will be a great result in the near future for sure. We have to just wait for it and experience the change for a good vision.