The Mumbai Police’s Economic Offences Wing (EOW) has filed a fraud case against actor Shilpa Shetty, her husband Raj Kundra, and another individual.
The case, registered at Juhu Police Station, alleges that the couple cheated a 60-year-old businessman out of Rs 60.48 crore in an investment deal related to their company, Best Deal TV Private Limited.
According to the complaint filed by businessman Deepak Kothari, he invested the money between 2015 and 2023 with the understanding that it would be used for the company’s expansion. However, the FIR alleges that Kundra and Shetty misappropriated the funds for personal use.
Details of the Complaint
The police initiated an inquiry based on Kothari’s complaint, which led to the registration of the case. Kothari, a director at Lotus Capital Financial Services, stated in the FIR that he was introduced to Kundra by a mutual friend. At the time, the couple reportedly held a majority stake (87.6%) in Best Deal TV Private Limited, a company operating online shopping and retail platforms.
Kothari claims he was convinced to transfer the funds as an investment, with the promise of monthly returns and the eventual repayment of the principal amount. He transferred the money in 2015. Shetty, who resigned from the company in 2016, is now facing charges alongside her husband. The complainant also noted that he discovered insolvency proceedings had been initiated against the company for allegedly defrauding another investor.
The police have booked the accused under several sections of the Indian Penal Code (IPC), including Section 403 (dishonest misappropriation of property), Section 406 (criminal breach of trust), and Section 34 (common intention). The investigation is currently ongoing.
