Bollywood actor Shilpa Shetty Kundra and her husband, businessman Raj Kundra, have landed in hot water. The Economic Offences Wing (EOW) has booked them for allegedly cheating a Mumbai-based businessman out of a staggering Rs 60.4 crore. The case revolves around their now-defunct company, Best Deal TV Pvt Ltd.
According to police reports, Deepak Kothari, the complainant, claims he was duped in a loan-cum-investment deal. The money, given between 2015 and 2023, was supposedly meant for business expansion. Instead, Kothari alleges it was used for personal expenses.
The EOW took over the investigation after the amount involved crossed Rs 10 crore. The FIR was filed following a preliminary enquiry into Kothari’s complaint. Initially, the case was registered at Juhu police station under sections related to cheating and forgery.
The story goes like this. Kothari, a director at Lotus Capital Financial Services, was introduced to the couple by Rajesh Arya. At the time, Shilpa and Raj were directors of Best Deal TV Pvt Ltd, a home shopping and online retail platform. The duo held an 87.6 per cent stake in the company.
Here’s where things get murky. The couple allegedly asked for a Rs 75 crore loan at 12 per cent interest. But they then convinced Kothari to label it as an “investment” to avoid higher taxes. Promising monthly returns and principal repayment, they secured Rs 31.9 crore in April 2015, followed by another Rs 28.53 crore in September 2015.
Shilpa Shetty even offered a personal guarantee in April 2016. But by September 2016, she resigned as director. Kothari later discovered the company had gone bankrupt in 2017, defaulting on other agreements.
The case is still unfolding, with investigations ongoing. No statements have been released by Shilpa or Raj yet. This isn’t the first time the couple has faced legal trouble. Raj Kundra was previously arrested in a separate case related to alleged pornography distribution.
As the EOW digs deeper, more details are expected to surface. For now, the allegations have put the spotlight back on the high-profile couple. The case serves as a reminder that even celebrities aren’t above the law.
What started as a business deal has turned into a legal nightmare. With Rs 60 crore at stake, the stakes couldn’t be higher. Will the truth come out? Only time will tell.