Shilpa Shetty and Raj Kundra case: Mumbai Police has issued a Lookout Circular (LOC) against Bollywood actress Shilpa Shetty and her husband Raj Kundra in connection with a Rs 60 crore fraud case linked to the couple’s now defunct company Best Deal TV Pvt. Ltd. The Economic Offenses Wing of the police issued the LOC saying that the couple frequently travels internationally, so surveillance was necessary.
Shilpa Shetty and Raj Kundra case and allegations
The case was registered at Mumbai’s Juhu police station on August 14. The complainant, businessman Deepak Kothari, alleged that Shilpa Shetty and Raj Kundra defrauded him of around Rs 60 crore. The case is related to a loan-cum-investment deal.
Kothari said that he was introduced to the couple through Rajesh Arya. At that time, Shilpa and Raj Kundra held 87.6 per cent shares of Best Deal TV. Initially, the couple proposed to take a loan of Rs 75 crore at 12 per cent interest, but later they asked Kothari to give this amount as an investment, so that the tax would be less.
Kothari transferred Rs 31.95 crore in April 2015 and Rs 28.53 crore in September 2015 to the company’s HDFC bank account. However, in September 2016, Shilpa Shetty resigned from the post of director from the company. Insolvency proceedings were also started against the company in 2017.
Police action and legal initiative
The Mumbai Police has taken the case seriously and informed the ATS and other intelligence agencies. The case has been registered under sections 403, 406 and 34 of the Indian Penal Code (BNS). Police say that the purpose of issuing the LOC is to keep a quick watch in view of the couple’s international travel.
Earlier cases and legal troubles
This complaint adds to Shilpa Shetty and Raj Kundra’s legal troubles. Earlier this year, Prithviraj Kothari, MD Riddhi Siddhi Bullions, had also accused the couple of duping an investor. Raj Kundra was arrested in 2021 in the adult content case and later got bail. Apart from this, Kundra is also facing investigation in the money laundering case related to the Bitcoin scam.
The Mumbai Police says that the investigation is being conducted with the legal framework across the country and international monitoring, to ensure appropriate action given the seriousness of the matter. Further hearing and legal process of the case is ongoing.
