Lookout notice against Shilpa Shetty & Raj Kundra in a fraud case

Mumbai Police has issued a lookout circular against Bollywood actor Shilpa Shetty and her husband Raj Kundra in a multi-crore fraud case. The celebrity couple is accused of defrauding a businessman of about Rs 60 crore in a case linked to an investment deal for their now-defunct Best Deal TV Pvt Ltd. Economic Offences Wing (EOW) sources suggest the police are now investigating the travel logs of Ms Shetty and Kundra. The firm's auditor has also been called for questioning.

Businessman Deepak Kothari had alleged that between 2015 and 2023, the couple had taken Rs 60 crore from him under the pretext of expanding their business, but spent it on personal expenses. The couple had allegedly taken the money as a loan but later showed it as an investment, citing tax savings. According to Mr Kothari, he was assured that the money would be returned within a certain time with 12% annual interest and that Ms Shetty had given him a personal guarantee in writing in April 2016. But within a few months, Ms Shetty resigned as director of the firm.

On behalf of Shilpa and Raj, lawyer Prashant Patil had responded to these claims by stating that the case was tried in the NCLT Mumbai in 2024 and that it was an old transaction. Patil asserts that there is no criminality involved and that the entire situation is of a civil nature. Additionally, he claimed that the auditors have provided all the documents and cash flow statements to the investigating agencies.