Actor Shilpa Shetty and her husband, businessman Raj Kundra, are facing serious allegations in a high-value financial fraud case. The Economic Offences Wing (EOW) of Mumbai Police has booked the couple and another unidentified person after a complaint by businessman Deepak Kothari.
Kothari, director of Lotus Capital Financial Services, claims the couple cheated him of Rs 60.48 crore through their company, Best Deal TV Private Limited. He alleges the money was taken under the guise of an investment but was later misused.
Allegations Against Shilpa Shetty And Raj Kundra
According to the FIR, Kothari met Kundra through a mutual friend in 2015. At the time, Shetty and Kundra reportedly owned 87.6% of Best Deal TV, an online shopping platform. Kothari says they pitched the idea as a safe investment, promising monthly returns and repayment of the principal amount.
The businessman transferred the funds in 2015. However, he later claimed to have found that the money was used for personal purposes instead of the company’s growth. In 2016, Shetty resigned from the firm, and soon after, insolvency proceedings were initiated against the company for allegedly cheating another investor.
Police have booked the accused under sections 403 (dishonest misappropriation of property), 406 (criminal breach of trust) and 34 (common intention) of the Indian Penal Code.
Shilpa Shetty And Raj Kundra Claim Innocence
The couple’s lawyer (Advocate Prashant Patil) has rejected the allegations. In a statement, he said, “My clients have been informed by certain segments of electronic and print media that an alleged case has been registered against them at the Economic Offences Wing, Mumbai. At the outset, my clients deny all the allegations, which are purely civil in nature and have already been adjudicated by the NCLT Mumbai on 04/10/2024.”
Patil described the dispute as an old business matter that worsened due to financial difficulties. He added, “There is no criminality involved. Our auditors have submitted all necessary supporting documents from time to time, as requested by the EOW, including detailed cash flow statements.”
He further said the deal was more like an equity investment and that the company had already been ordered into liquidation. Patil stated, “The concerned chartered accountants have visited the police station more than 15 times over the past year, with all evidence supporting our clients’ claims. This is nothing but a baseless and malicious case aimed at maligning our clients, and appropriate legal action is being initiated.”
EOW Continues Investigation
The EOW will continue examining the company’s financial records and the alleged misuse of funds. While the investigation moves forward, Shilpa Shetty and Raj Kundra maintain their innocence, insisting the case is an attempt to damage their reputation.
