Shilpa Shetty And Raj Kundra Accused In Rs. 60 Crore Fraud, Case Filed By Businessman
Bollywood celeb Shilpa Shetty and her husband Raj Kundra face legal trouble as a businessman accuses them of cheating him out of Rs. 60 crore.
Bollywood actor Shilpa Shetty and her husband, businessman Raj Kundra, are facing fresh legal trouble after a Mumbai-based entrepreneur accused them of cheating him out of more than Rs. 60 crore.
Businessman Alleges Money Was Diverted For Personal Use
The complaint was lodged by businessman Deepak Kothari, who alleges that between 2015 and 2023, the celebrity couple, along with another associate, conspired to defraud him. Kothari claims he had invested the massive sum with the intention of expanding his business ventures.
However, according to the allegations detailed in the FIR, the funds were not used for the promised business activities. Instead, Kothari accuses Shetty and Kundra of diverting the money for personal use.
Kothari says he first met Shetty and Kundra through agent Rajesh Arya in 2015. At the time, both were directors of Best Deal TV, with Shetty reportedly holding more than 87% of the company’s shares.
Loan Proposal Turned Into 'Investment' Deal
According to the complaint, Rajesh Arya initially sought a Rs. 75 crore loan for the company at 12% annual interest. However, to avoid higher taxes, he allegedly suggested structuring the funds as an 'investment.' A meeting followed, and the deal was finalized with assurances that the full amount would be repaid promptly.
The first tranche, Rs. 31.95 crore, was transferred in April 2015. But after lingering tax concerns, a fresh agreement was signed in September 2015. Between July 2015 and March 2016, Kothari says he transferred an additional Rs. 28.54 crore.
Personal Guarantee, Then Sudden Resignation
In April 2016, Shetty allegedly issued a personal guarantee to Kothari. Just months later, in September, she resigned as the company’s director. Soon after, an insolvency case worth Rs. 1.28 crore surfaced against Best Deal TV, something Kothari says he knew nothing about at the time.
Repeated attempts to recover his money reportedly went unanswered. Kothari now accuses the celebrity couple of orchestrating a 'well-planned conspiracy' spanning eight years.
EOW Steps In
The case was first registered at Juhu Police Station under charges of cheating and forgery. Given the large sum involved, exceeding Rs. 10 crore, it has since been transferred to the Economic Offences Wing (EOW) for investigation.
The EOW is currently probing the allegations, which could have significant legal and financial consequences for the high-profile couple.
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