Bollywood actress Shilpa Shetty and her husband, businessman Raj Kundra, are once again at the center of a legal storm. The couple has been booked by the Mumbai Police's Economic Offences Wing (EOW) for allegedly cheating a businessman, Deepak Kothari, of over ₹60 crore. The case, which involves their now-defunct company, Best Deal TV Pvt Ltd, stems from a complaint filed by Kothari, a director of a non-banking financial company. This development marks another significant legal challenge for the couple, who have faced scrutiny in the past over various financial and business dealings.

According to Kothari's complaint, the alleged fraud dates back to 2015. He claims that Shilpa and Raj Kundra, through a mediator, approached him seeking a substantial loan of ₹75 crore for their company, which operated an online shopping platform. Kothari stated that he was initially offered a 12% interest rate on the loan. However, he alleges that he was later persuaded to route the funds as an "investment" to avoid higher taxation, with assurances of monthly returns and the repayment of the principal amount.

The Financial Trail: A Breakdown of the Allegations

The complaint provides a detailed account of the financial transactions involved. Kothari claims that he transferred a total of ₹60.48 crore in two tranches to the company's bank accounts. The first transfer, amounting to ₹31.95 crore, was made in April 2015 under a share subscription agreement. This was followed by a second transfer of ₹28.53 crore in September of the same year, facilitated by a supplementary agreement.

Kothari’s complaint further alleges that despite these significant investments, he was unable to recover his funds. He claims that Shilpa Shetty, who was a director in the company at the time, provided a personal guarantee in April 2016 but resigned from her position just five months later. The businessman later discovered that insolvency proceedings had been initiated against the company in 2017 for defaulting on another agreement. Kothari has accused the couple of misappropriating the funds for personal use instead of utilizing them for the company's business expansion as promised.

The Defense and Broader Context

In response to the allegations, the legal counsel for Shilpa Shetty and Raj Kundra has issued a statement, vehemently denying all charges. Their lawyer, Prashant Patil, has stated that the allegations are "purely civil in nature" and have no criminality. Patil pointed out that the matter had already been adjudicated by the National Company Law Tribunal (NCLT) in October 2024 and that the couple's auditors have submitted all necessary documents to the EOW. This suggests that the couple will argue that the dispute is a corporate matter and not a criminal one.

This new case adds to a series of legal challenges that have plagued the couple. Raj Kundra has been previously involved in controversies related to a pornography case, a Bitcoin Ponzi scheme, and a money laundering investigation. The EOW is currently investigating the new complaint, with a focus on tracing the money trail and determining the role of each individual in the alleged conspiracy. As the legal proceedings unfold, the public will be watching closely to see how this high-profile case develops.
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