Raj Kundra Named In ₹60 Crore Fraud Case, EOW Issues Lookout Notice

Raj Kundra is under investigation by Mumbai’s Economic Offences Wing over an alleged ₹60 crore fraud involving Best Deal TV Pvt Ltd. A lookout notice has also been issued against him and Shilpa Shetty

Raj Kundra under EOW scrutiny for alleged ₹60 crore fraud; Shilpa Shetty also named in the case.

Source : ABP Live

Businessman and Shilpa Shetty’s husband, Raj Kundra, is once again in the eye of a legal storm. The Economic Offences Wing (EOW) in Mumbai is currently investigating an alleged ₹60 crore fraud case tied to Kundra’s now-defunct venture, Best Deal TV Pvt Ltd. A lookout notice has been issued against both Kundra and actor Shilpa Shetty following checks on their travel activity.

The Allegation: ₹60 Crore Investment Turned Sour?

The complaint was filed by businessman Deepak Kothari, who claims he was duped out of over ₹60 crore in what was initially pitched as a loan-cum-investment deal. Kothari alleged that between 2015 and 2023, he invested in Best Deal TV Pvt Ltd to aid its growth. However, he now alleges the money was misappropriated and used by the couple for personal expenses.

In August 2025, the EOW registered the case and summoned Raj Kundra. Though Kundra sought more time to appear, he is expected to face investigators today.

Kundra & Shetty Deny Wrongdoing

The couple, through their legal representative Prashant Patil, has categorically denied all charges. Patil termed the allegations “baseless and malicious”, asserting that the matter was civil in nature and had already been handled by the National Company Law Tribunal (NCLT).

“This is an old transaction, wherein the company went into financial distress and eventually got entangled in a long legal battle at the NCLT. There is no criminality involved,” said Patil.

The lawyer further clarified that: “The investment agreement in question is purely in the nature of an equity investment. The company has already received a liquidation order, which has also been placed before the police department.”

He also noted that auditors and chartered accountants working on the case have been regularly cooperating with authorities and have visited the EOW office over 15 times, submitting documentation including detailed cash flow statements.

Legal Strategy Moving Forward

Patil reiterated that appropriate legal measures will be taken to protect the couple’s reputation and clear their names. The EOW, meanwhile, continues to probe the financial trail and verify if criminal elements are involved in the alleged misuse of investor funds.

This is not the first time Kundra has faced legal scrutiny, but with the EOW now actively involved, the case could develop further depending on the outcome of today’s questioning.