Are Shilpa Shetty and Raj Kundra Facing Charges for Cheating a Businessman?
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Synopsis
Shilpa Shetty and Raj Kundra have landed in hot water as they face serious allegations of defrauding a businessman out of Rs 60.4 crore. The Economic Offences Wing is investigating the claims linked to their failed venture. How will this affect their careers? Stay tuned for the unfolding developments.
Key Takeaways
- Shilpa Shetty and Raj Kundra face serious legal allegations.
- The amount involved exceeds Rs 60 crore.
- The case has been transferred to the Economic Offences Wing.
- Investigation is ongoing with more details expected.
- The couple's previous company, Best Deal TV Pvt Ltd, is defunct.
Mumbai, Aug 14 (NationPress) Bollywood actress Shilpa Shetty Kundra, along with her husband Raj Kundra and an unidentified person, have been charged by the Economic Offences Wing (EOW) for allegedly deceiving a businessman from Mumbai out of Rs 60.4 crore. This fraud is linked to a loan-cum-investment scheme associated with their now-defunct company, Best Deal TV Pvt Ltd, as reported by police on Thursday.
According to the Mumbai Police, businessman Deepak Kothari has accused the couple of jointly defrauding him of over Rs 60 crore.
Kothari claims that the funds, which were provided between 2015 and 2023 for business growth, were instead diverted for personal use. As a result, the investigation has now been assigned to the EOW.
The initial report was filed at the Juhu police station under pertinent sections pertaining to cheating and forgery. However, due to the significant amount involved, exceeding Rs 10 crore, the case has been escalated to the EOW. The FIR was registered following a preliminary investigation into Kothari's allegations.
Kothari, a resident of Juhu and the director of Lotus Capital Financial Services, mentioned that he was introduced to Shilpa Shetty and Raj Kundra by an individual named Rajesh Arya, who at that time were directors of Best Deal TV Pvt Ltd, a home shopping and online retail platform. The couple reportedly owned 87.6 percent of the company's shares.
The accused allegedly sought a loan of Rs 75 crore at an interest rate of 12 percent but later persuaded him to treat the funds as an 'investment' to evade higher taxes, while promising monthly returns along with the principal repayment.
Kothari claims he transferred Rs 31.9 crore in April 2015 under a share subscription agreement and another Rs 28.53 crore in September 2015 under a supplementary agreement.
The FIR indicates that despite providing a personal guarantee in April 2016, Shilpa Shetty resigned as a director in September 2016.
Later, Kothari discovered that the company entered bankruptcy proceedings in 2017 after failing to comply with another agreement.
Investigations are currently ongoing, with more details to be revealed.
Point of View
We recognize the importance of transparency in such serious matters. The allegations against Shilpa Shetty and Raj Kundra must be thoroughly investigated, and due process should be followed to uphold justice. The implications of this case extend beyond the individuals involved, impacting public trust and the reputation of the Bollywood industry.
NationPress
09/10/2025
Frequently Asked Questions
What are the allegations against Shilpa Shetty and Raj Kundra?
They are accused of defrauding a businessman out of Rs 60.4 crore in a loan-cum-investment deal.
What is the role of the Economic Offences Wing?
The EOW investigates economic crimes, including fraud and financial misconduct.
How did the businessman claim he was defrauded?
He alleges that funds meant for business expansion were diverted for personal expenses.
What was the financial arrangement between the parties?
The businessman claims he was misled into converting a loan into an investment.
What happens next in the investigation?
The EOW will continue to investigate the claims and gather evidence.
