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Mumbai Police has issued a lookout circular against Bollywood actor Shilpa Shetty and her husband, businessman Raj Kundra, in connection with a Rs 60 crore fraud case. The high-profile couple is accused of duping a businessman in an investment deal tied to their now-defunct venture, Best Deal TV Pvt Ltd.
Allegations of Cheating and Misuse of Funds
According to the complaint filed by businessman Deepak Kothari, between 2015 and 2023, the couple allegedly took Rs 60 crore from him under the pretext of expanding their business. Instead, the money was reportedly diverted to cover personal expenses. Initially taken as a loan, the funds were later shown as an investment, with tax savings cited as justification.
Mr. Kothari stated that he was promised a 12% annual return and that Shetty herself provided a written personal guarantee in April 2016. However, within months, the actress resigned as director of the firm.
Insolvency Case Concealed
The businessman further alleged that he later discovered an insolvency case of Rs 1.28 crore was already pending against the company, a fact he was never informed about before investing. This, he claims, indicates deliberate concealment and fraud.
Police Investigation Underway
The Economic Offences Wing (EOW) is currently probing the matter. Investigators are examining the couple’s travel records, and the company’s auditor has been summoned for questioning.
Couple Denies Charges
Both Shilpa Shetty and Raj Kundra have dismissed the allegations, calling the case baseless and malicious, and claim it is an attempt to malign their public image.
