The Economic Offences Wing (EOW) of the Mumbai Police has put out a Look Out Circular (LOC) for Bollywood actress Shilpa Shetty and her husband, businessman Raj Kundra, in connection with a cheating case worth ₹60 crore. The couple has been charged with cheating Deepak Kothari, a businessman in the city, out of his investment in their now-defunct company, Best Deal TV Pvt. Ltd.
The couple and an unknown person are being charged with criminal breach of trust and dishonest misuse of property under parts of the Indian Penal Code (IPC). The LOC was given as a safety measure because the pair travels a lot internationally. It makes sure they stay in the country so the investigation can go smoothly.
Deepak Kothari said in his complaint that he put ₹60.48 crore into Best Deal TV from 2015 to 2023 to help the business grow. He says that they promised him monthly payments and the full sum back. But it is said that the pair took the money and used it for their own needs.
In addition, Kothari’s complaint says that Shilpa Shetty, who owned a large part of the company, quit in 2016. Later, he found out that the company was going through bankruptcy because it was accused of scamming another investor.
What the Couple Said
Shilpa Shetty and Raj Kundra’s lawyers have denied all of the accusations, calling the case “baseless” and “malicious.” Prashant Patil, their lawyer, said that the case is “purely civil in nature” and that the National Company Law Tribunal (NCLT) previously dealt with it in October 2024. He says that the couple’s company’s auditors have sent all the relevant papers to the EOW and that the company has already been told to shut down.