Shilpa Shetty and Raj Kundra Face Accusations of a Rs 60 Crore Fraud

Businessman Deepak Kothari has leveled accusations against Bollywood actress Shilpa Shetty and her husband, Raj Kundra, alleging they defrauded him of Rs 60.48 crore. The Economic Offences Wing (EOW) is currently investigating the case, which revolves around a loan-cum-investment deal related to the couple’s now-defunct online shopping platform, Best Deal TV Pvt Ltd. Kothari claims that he was introduced to Shetty and Kundra in 2015 through an agent, Rajesh Arya. Arya proposed a loan of Rs 75 crore with a 12% interest rate to expand the business, suggesting that Kothari send the money as an ‘investment’ to avoid taxes. Kothari agreed, transferring Rs 31.95 crore in April 2015, Rs 28.54 crore between July 2015 and March 2016, and Rs 3.19 lakh for stamp duty. Kothari states that Shilpa Shetty personally assured him in April 2016 that the amount would be returned, but she later resigned as a director in September. Following this, a bankruptcy case of Rs 1.28 crore was registered against the company, a matter Kothari was not informed about. The businessman alleges that the couple misused the funds for personal expenses between 2015 and 2023. After repeated demands for the return of the money went unanswered, Kothari filed a complaint of fraud and forgery at the Juhu police station, which was subsequently handed over to the EOW. In response, Shilpa Shetty and Raj Kundra’s legal representative has refuted the allegations, categorizing them as baseless and civil in nature. The lawyer asserted that the matter had already been settled by the NCLT Mumbai on October 4, 2024.