Lookout Notice For Shilpa Shetty, Raj Kundra in Rs 60-Crore Cheating Case

Mumbai Police has issued a lookout circular against actor Shilpa Shetty and her husband, businessman Raj Kundra, in connection with an alleged cheating case amounting to nearly Rs 60 crore . The action was taken by the Economic Offences Wing (EOW) following a complaint by businessman Deepak Kothari, who accused the couple of defrauding him through their now-defunct company, Best Deal TV Pvt Ltd .

The case was registered after Kothari alleged that he invested over Rs 60 crore with Shetty and Kundra between 2015 and 2023 for business expansion, but the funds were instead diverted for their personal expenses . According to the complaint, Kothari was persuaded to channel the money as an “investment” instead of a loan to avoid higher taxes, with the promise of monthly returns and repayment of the principal . Kothari claimed he transferred a total of Rs 60.48 crore in two installments but never received the promised returns .

The couple’s lawyer has denied the allegations, stating they are “purely civil in nature” and have already been adjudicated by the National Company Law Tribunal . The lawyer maintained that there is no criminality involved and that all necessary documents have been submitted to the EOW . The case was initially registered at the Juhu police station but was transferred to the EOW as the amount involved exceeded Rs 10 crore .

The FIR states that Shilpa Shetty, who held a majority stake in the company, resigned as a director in September 2016, shortly after offering a personal guarantee for the repayment in April 2016 . Kothari later discovered the company had entered bankruptcy proceedings in 2017 . The lookout circular was issued to prevent the couple from leaving the country as the investigation proceeds