No relief for Shilpa Shetty as Bombay High Court rejects plea in Rs 60-Crore fraud case

In a major setback for actress Shilpa Shetty, the Bombay High Court has once again denied her relief in the Rs 60-crore fraud case linked to her husband Raj Kundra’s company. During the hearing on Tuesday, Shilpa maintained that she had no association with the firm involved and urged the court to cancel the Lookout Notice issued against her. 

However, the bench made it clear that if she wished to travel abroad, she would need to turn approver in the case.

The court directed Shilpa to file a written submission by October 16, reiterating that if she claims no connection to the company, Raj Kundra must provide an affidavit supporting her statement. Additionally, the court asked for Rs 60 crore to be deposited, a move Shilpa refused, asserting she had no role in her husband’s financial dealings.

Also Read: Mumbai Police issues lookout circular against Shilpa Shetty, Raj Kundra in fraud case

The Rs 60-Crore Fraud Allegations

The case stems from a complaint filed by Deepak Kothari, director of Lotus Capital Financial Services Ltd, who accused Shilpa and Raj of financial fraud between 2015 and 2023. Kothari alleged that the couple took funds meant for expanding their venture, Best Deal TV Pvt Ltd, but instead used the money for personal purposes.

According to the complaint, the duo allegedly borrowed Rs 75 crore at 12% interest for their online lifestyle business in 2015 but failed to repay the amount despite repeated reminders.

Couple Denies Charges

Meanwhile, the couple’s lawyer, Prashant Patil, has strongly refuted all allegations, maintaining that the claims are baseless and defamatory. The case continues to draw widespread attention as the high-profile proceedings unfold in Mumbai.