The Economic Offences Wing (EOW) of the Mumbai Police has registered a case against Bollywood actress Shilpa Shetty and her husband, businessman Raj Kundra, for allegedly defrauding a businessman of Rs 60.48 crore. The case was filed based on a complaint by Deepak Kothari, a Juhu-based businessman.
Case Details:
Deepak Kothari, director of Lotus Capital Financial Services Limited, alleges that in 2015, Shilpa Shetty and Raj Kundra approached him for a loan of Rs 75 crore for their company, Best Deal TV Private Limited, an online shopping platform promoting lifestyle products. According to Kothari, instead of treating the amount as a loan, Shilpa and Raj insisted it be labeled as an "investment" to avoid higher taxes. Agreeing to this, Kothari transferred Rs 31.95 crore in April 2015 and Rs 28.53 crore in September 2015, totaling Rs 60.48 crore, to Best Deal TV’s account.As per Kothari’s complaint, despite assurances that the funds would be used for business expansion, Shilpa and Raj allegedly misused the money for personal expenses. In 2016, Shilpa Shetty stepped down as a director of the company, and in 2017, insolvency proceedings were initiated against Best Deal TV, without Kothari being informed. His repeated attempts to recover the funds were unsuccessful.
Legal Action:
Based on these allegations, a case was filed at Juhu Police Station against Shilpa Shetty, Raj Kundra, and an unidentified person under sections 403 (dishonest misappropriation of property), 406 (criminal breach of trust), and 34 (common intention) of the Indian Penal Code (IPC). Due to the involvement of an amount exceeding Rs 10 crore, the case was transferred to the EOW. The EOW is currently investigating the flow of funds and the role of the accused.
Response from Shilpa Shetty and Raj Kundra:
Shilpa Shetty and Raj Kundra’s lawyer, Prashant Patil, has called the allegations “baseless and malicious.” He stated that the transaction was of a civil nature and has already been resolved by the National Company Law Tribunal (NCLT) in Mumbai. He argued that the dispute arose due to the company’s financial distress and insolvency proceedings. All necessary documents have been provided to the EOW, according to Patil.
Background:
This is not the first fraud allegation against Shilpa Shetty and Raj Kundra. In 2024, a complaint was filed against them for an alleged Rs 90 lakh fraud related to a gold investment scheme. Raj Kundra was arrested by Mumbai Police in 2021 in connection with the distribution of pornographic films and was later released on bail. He has also been implicated in a money laundering investigation related to a Bitcoin scam.
Current Status:
The EOW is continuing its investigation and is likely to summon Shilpa Shetty and Raj Kundra for questioning soon. The veracity of the allegations will be determined through the ongoing probe.If you need further details or have specific questions about the case, please let me know!