Shilpa Shetty, Raj Kundra Booked for Cheating Businessman of ₹60 Crore; EOW Takes Over Probe
Actor Shilpa Shetty and her businessman husband, Raj Kundra, are embroiled in fresh legal trouble after being booked by the Mumbai Police’s Economic Offences Wing (EOW) for allegedly cheating a businessman of over ₹60 crore. The case, which also names a third individual, is linked to a deal involving the couple’s now-defunct home shopping and online retail company, Best Deal TV Pvt. Ltd.
The complaint was filed by Deepak Kothari, a Mumbai-based businessman and director of Lotus Capital Financial Services. Kothari alleged that between 2015 and 2023, the couple conspired to defraud him of a total of ₹60.48 crore.
According to his complaint, he was introduced to Shetty and Kundra, who at the time held a majority stake of 87.6% in Best Deal TV. He claims they initially sought a loan of ₹75 crore but later persuaded him to route the money as an “investment” to avoid higher taxes, assuring him of monthly returns and the repayment of his principal amount.
Trusting these assurances, Kothari transferred approximately ₹60.48 crore to the company’s bank accounts in two tranches in 2015. However, he alleges the funds were never used for business expansion as promised but were instead dishonestly used for the couple’s personal benefit.
The situation grew complicated when Shilpa Shetty resigned as a director from the company in September 2016, just months after providing a personal guarantee. The following year, the company faced insolvency proceedings for defaulting on another agreement, a fact Kothari claims he was never informed of.
After repeated failed attempts to recover his money, Kothari filed a police complaint, which has now been transferred to the EOW due to the high value of the alleged fraud exceeding ₹10 crore. This case adds to a string of legal challenges for the couple. Earlier this year, they were accused of defrauding an investor in a gold scheme. Raj Kundra was also previously arrested in 2021 in connection with an adult content case and is under scrutiny in a separate money laundering probe
