Bollywood actor Shilpa Shetty Kundra and her husband and businessman Raj Kundra, along with an unidentified individual, have been booked by the Economic Offences Wing (EOW) of the Mumbai Police for allegedly defrauding a city-based businessman.
Police Report
According to the police report, the three were involved in a loan-cum-investment deal linked of Rs 60.4 crore to their now-defunct company Best Deal TV Pvt Ltd. Businessman Deepak Kothari has alleged that the couple ‘misappropriated funds’ he provided between 2015 and 2023 for business expansion. He also alleges that they diverted the funds for personal use. The case was initially registered at Juhu Police Station under sections related to cheating and forgery. However, it was later transferred to the EOW after it was determined that the amount involved exceeded Rs 10 crore.
Complaint Registered
The complaint, according to ANI, alleges that the accused initially sought a Rs 75 crore loan at 12% interest but later persuaded him to provide the funds as an “investment” to reduce tax liabilities. He was reportedly assured monthly returns along with repayment of the principal.
The Allegations
Kothari, a Juhu resident, stated in his complaint that he was introduced to Shetty and Kundra by one Rajesh Arya. At the time, the couple were directors of Best Deal TV Pvt Ltd, a home shopping and online retail platform, and collectively held 87.6% of its shares.He claims to have transferred Rs 31.9 crore in April 2015 under a share subscription agreement, followed by another Rs 28.53 crore in September 2015 under a supplementary agreement. Despite offering a personal guarantee in April 2016, Shetty resigned as director in September that year, the FIR notes. Kothari later discovered that the company had entered bankruptcy proceedings in 2017 after defaulting on another agreement.Police confirmed that an investigation is underway and that further details will be shared as the case progresses.
