Businessman tactically defrauded of 60 crore rupees by Shilpa Shetty and her husband Raj Kundra
In a series of shocking developments, Bollywood actress Shilpa Shetty and her husband Raj Kundra have found themselves embroiled in a legal battle over an alleged Rs 60 crore fraud case filed by businessman Deepak Kothari.
The Economic Offences Wing (EOW) of Mumbai Police has registered a case against the couple, along with their now-defunct company, Best Deal TV Private Limited, based on Kothari's complaint. He alleges that the couple cheated him through a loan-cum-investment deal, which was later restructured as an "investment" to save taxes, with assurances of monthly returns and repayment of the principal.
According to the investigation, Kothari transferred around Rs 60 crore in two tranches to Best Deal TV's bank accounts in 2015. The funds were allegedly misappropriated for personal use by the couple.
The case was initially filed at Juhu Police Station but was later transferred to the EOW due to the large amount involved. Kothari accused Rajesh Arya, a mediator, of introducing him to Shilpa Shetty and Raj Kundra.
The EOW is currently conducting an investigation into the financial history of Shilpa Shetty and Raj Kundra, and has summoned them for further interrogation as part of the ongoing probe. The couple has denied all allegations, calling the case "baseless and malicious" and maintaining that there is no criminality involved.
Best Deal TV, the company owned by Shilpa Shetty and Raj Kundra, was an online retail platform. At the time of the alleged fraud, the then directors of Best Deal TV held 87.6% stake in the company.
This is not the first time Shilpa Shetty and Raj Kundra have faced legal troubles. In 2024, they were involved in a nearly Rs 100 crore Bitcoin scandal, and in 2013, Raj Kundra was accused of spot-fixing in the Indian Premier League, but no formal charges have been registered to this date.
The EOW is actively investigating the charges against Shilpa Shetty and Raj Kundra, and the outcome of the investigation will undoubtedly attract significant attention from the media and the public. The couple has yet to issue a formal statement regarding the allegations.
[1] Times of India [2] India Today [3] Hindustan Times [4] NDTV [5] The Indian Express
- The investigation into the alleged Rs 60 crore fraud case against Bollywood actress Shilpa Shetty and her husband Raj Kundra has been taken over by the Economic Offences Wing (EOW) of Mumbai Police.
- Finance experts are closely watching the legal battle between Shilpa Shetty, Raj Kundra, and businessman Deepak Kothari, as it involves a loan-cum-investment deal that was restructured for tax savings.
- The case has sparked interest in the Defi space as well, given the involvement of digital assets like Bitcoin in a past scandal in which Shilpa Shetty and Raj Kundra were implicated.
- The ongoing investigation into Shilpa Shetty and Raj Kundra's financial history may affect their reputation not only in the entertainment industry but also in the general news and crime-and-justice sectors.
- As the EOW's investigation progresses, multiple media outlets, including Times of India, India Today, Hindustan Times, NDTV, and The Indian Express, are likely to cover the case extensively.
- While the couple has denied all allegations of criminality, their past legal troubles in areas such as Bitcoin and spot-fixing may resurface during the current investigation, potentially impacting their investment and business opportunities in the future.
