Mumbai Police’s Economic Offences Wing (EOW) has registered a fraud case against actor Shilpa Shetty, her husband Raj Kundra, and another unidentified individual. The complaint alleges that the couple cheated a businessman of ₹60.48 crore in a loan-cum-investment deal linked to their company, Best Deal TV Private Limited.
The Complaint
According to Deepak Kothari, a 60-year-old businessman and director of Lotus Capital Financial Services, he invested ₹60.48 crore between 2015 and 2023 for the company’s expansion. He claims that Raj Kundra and Shilpa Shetty instead diverted the funds for personal expenses.
Kothari stated that he was introduced to Kundra through a common friend. At the time, the couple allegedly held 87.6% shares in Best Deal TV, which operated as an online shopping and retail platform. Initially, the money was sought as a loan, but later they convinced him to treat it as an investment with the promise of monthly returns and repayment of the principal amount.
Timeline of Events
- 2015 – Funds transferred by Kothari to Best Deal TV.
- 2016 – Shilpa Shetty resigns from the company.
- Later, insolvency proceedings began against the firm for cheating another investor.
Police Action
Following a preliminary inquiry, the EOW filed the FIR at Juhu Police Station under:
- Section 403 – Dishonest misappropriation of property
- Section 406 – Criminal breach of trust
- Section 34 – Common intention
Police say the investigation will focus on how the funds were utilised and whether there were deliberate attempts to defraud investors.
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