Bollywood actress Shilpa Shetty and her husband, businessman Raj Kundra, are under police scanner after the Mumbai Police issued a lookout circular against them in a ₹60 crore fraud case. The Economic Offences Wing (EOW) has stepped up its investigation into allegations that the couple diverted funds collected for business purposes.
According to a complaint filed by businessman Deepak Kothari, the couple borrowed nearly ₹60 crore between 2015 and 2023, claiming it was for the expansion of their company, Best Deal TV Private Limited. However, he alleged that the money was used for personal expenses instead of business activities. He further claimed that the funds were initially shown as a loan but later converted into investment to evade taxes.
Kothari stated that the couple promised repayment with 12% annual interest and that Shilpa Shetty personally provided a written guarantee in April 2016. Months later, however, she resigned as a director of the company. He also alleged that they concealed ongoing insolvency proceedings of ₹1.28 crore against the firm.
Acting on the complaint, the EOW registered a case, examined the couple’s travel history, and summoned the company’s auditor for questioning. Shilpa Shetty and Raj Kundra, however, denied the charges, calling the case “false, baseless, and malicious,” and alleged that it was intended to damage their reputation.
