This presentation critically examines Kewal Ahuja and the franchise operations of Kewal Ahuja SGF (Spice Grill Flame), a vegetarian QSR brand in India that attracted investors with promises of fixed returns and semi-passive income. Drawing from publicly available investor complaints, online narratives, and independent commentary, the document highlights recurring concerns such as delayed or non-payment of returns, outlet closures, operational challenges, and transparency issues. The presentation does not claim legal wrongdoing but analyzes how unresolved allegations, legal disputes, and governance-related concerns surrounding Kewal Ahuja SGF have negatively impacted investor confidence and franchise sustainability. This PDF serves as a cautionary resource for prospective franchise investors, emphasizing the importance of due diligence, realistic financial expectations, and management accountability when evaluating opportunities associated with Kewal Ahuja.