🚨 Breaking News: Shilpa Shetty & Raj Kundra Booked for ₹60.48 Crore Fraud
Mumbai: Bollywood actress Shilpa Shetty Kundra and her husband Raj Kundra have been booked by the Mumbai Police’s Economic Offences Wing (EOW) for allegedly cheating a Juhu-based businessman of ₹60.48 crore.
The complainant, Deepak Kothari, director of Lotus Capital Financial Services Ltd — a non-banking financial company — alleged that the celebrity couple took a massive loan in 2015 under false pretences and never repaid it.
The Deal Gone Wrong
Kothari said he was introduced to the couple by Rajesh Arya, a loan agent working with his firm. A meeting was arranged at a five-star hotel in Juhu, where Kundra and Shetty claimed to be directors of Best Deal TV Pvt Ltd, an online retail platform now defunct. Shetty reportedly held 87.61% shares in the company at the time.
The couple sought a ₹75 crore loan at 12% interest, but later persuaded Kothari to route the funds as an “investment” to avoid higher taxes, assuring monthly returns and full principal repayment.
Believing their assurances, Kothari transferred:
- ₹31.95 crore in April 2015 (Share Subscription Agreement)
- ₹28.53 crore in September 2015 (Supplementary Agreement)
The funds went to Best Deal TV’s HDFC Bank accounts, and the couple even paid ₹3.19 lakh in stamp duty.
From Promises to Silence
Despite a personal guarantee, Kothari later received an email from Shetty’s official address in 2016, stating she had resigned as director. When questioned, she allegedly avoided giving a satisfactory response. In 2017, Kothari discovered insolvency proceedings had begun against the company for defaulting on another agreement.
Repeated attempts to recover the money failed, with the couple citing pandemic-related delays. Kothari now alleges the money was used for their personal benefit.
Legal Action
Based on the complaint, an FIR has been registered under:
- Section 403 – Dishonest misappropriation of property
- Section 406 – Criminal breach of trust
- Section 34 – Common intention
The case has been transferred to the EOW as the amount exceeds ₹10 crore. Investigators are now tracing the money trail and the alleged roles of all accused in the conspiracy.