Did Raj Kundra’s Business Suffer Financial Losses Due to Demonetization?
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Synopsis
In a dramatic twist to an ongoing investigation, Raj Kundra claims his business faced devastating losses due to demonetization, impacting his ability to repay loans. As authorities delve deeper, shocking allegations emerge involving large sums paid to actresses and potential fraud. Discover the unfolding details of this high-profile case.
Key Takeaways
- Raj Kundra claims significant business losses due to demonetization.
- The EOW is investigating allegations of fraud involving over ₹60 crores.
- Funds were allegedly misused for personal expenses instead of business expansion.
- The Bombay High Court has restricted international travel for both Shilpa and Raj.
- Further questioning of Raj Kundra is expected in the coming weeks.
Mumbai, Oct 10 (NationPress) The Economic Offences Wing (EOW) of the Mumbai Police has gathered new testimonies from Shilpa Shetty and her spouse, Raj Kundra, as part of the ongoing probe into an alleged ₹60 crore fraud case.
During his questioning, Kundra revealed to the EOW that his enterprise faced substantial financial setbacks due to demonetization. He elaborated that his company, which specializes in trading electrical and household appliances, suffered major losses post-demonetization. As a result of these financial difficulties, he stated that his company struggled to repay its loans.
This marks the second occasion Kundra's statement has been recorded regarding this issue. Authorities have indicated that he will be called in for further questioning in the upcoming weeks.
The EOW also interrogated Shilpa for approximately four and a half hours concerning this matter.
In an important allegation, businessman Deepak Kothari has accused Shilpa and Raj of conspiring to defraud him of over ₹60 crores. He asserted that the funds provided for business expansion from 2015 to 2023 were instead misused for personal expenditures.
Reports suggest that Kundra has claimed a portion of the ₹60 crore was allocated to actresses Bipasha Basu and Neha Dhupia as remuneration.
However, during a lengthy five-hour interrogation by the EOW, he reportedly refrained from addressing several key issues, leading to the necessity for additional questioning.
Furthermore, investigations revealed that the disputed funds were directly moved from the company's accounts into the accounts of four actresses, including Shilpa, Bipasha, and Neha, with transactions also linked to Ektaa Kapoor's Balaji Entertainment.
Recently, the Bombay High Court denied Shilpa and Kundra permission for international travel.
Shilpa's attorney informed the court that she intended to travel to Colombo for a YouTube event.
When the High Court inquired about the invitation, her lawyer stated that it wouldn't be received until travel permission was granted. The court remarked that Shilpa must first return the ₹60 crore for the alleged fraud before considering their travel request.
Point of View
It is imperative to approach this unfolding narrative with objectivity. The claims made by Raj Kundra regarding financial losses due to demonetization must be investigated thoroughly, as they highlight the intersection of business and law in contemporary India. The ongoing scrutiny by the EOW reflects a commitment to transparency and accountability within the entertainment industry.
NationPress
10/10/2025
Frequently Asked Questions
What are the main allegations against Raj Kundra?
Raj Kundra is accused of involvement in a ₹60 crore cheating case, where funds intended for business expansion were allegedly misused for personal expenses.
How has demonetization affected Kundra's business?
Kundra claims that demonetization led to significant financial losses for his company, making it difficult to repay borrowed funds.
What role do actresses play in this case?
The investigation has revealed that a portion of the funds in question was allegedly paid to actresses including Bipasha Basu and Neha Dhupia.
What is the current status of the investigation?
The Economic Offences Wing continues to investigate, having recorded multiple statements from both Raj Kundra and Shilpa Shetty.
What did the Bombay High Court decide regarding travel?
The Bombay High Court has denied Shilpa and Kundra permission for international travel until the alleged ₹60 crore is returned.
