Mumbai: A case has been registered against Bollywood actor Shilpa Shetty, her husband and businessman Raj Kundra, and one other individual, over allegations of cheating a businessman out of more than ₹60 crore.
The complaint, lodged by Deepak Kothari, Director of Lotus Capital Financial Services Ltd, claims the incident unfolded between 2015 and 2023. Kothari alleges that the couple solicited funds under the guise of expanding their company but diverted the money for personal use.
According to the complaint, Shetty and Kundra approached Kothari in 2015 through a mediator, initially seeking a ₹75 crore loan for their company, Best Deal TV Pvt Ltd, which operated an online shopping platform promoting lifestyle products. They reportedly offered a 12% interest on the loan.
However, the couple later proposed that the funds be treated as an investment rather than a loan, promising monthly returns and repayment of the principal. Kothari claims he invested ₹31.95 crore in April 2015 under a share subscription agreement, followed by another ₹28.53 crore in September 2015 through a supplementary agreement. The total amount was allegedly transferred to the company’s bank accounts.
Kothari states that multiple attempts to recover the funds proved unsuccessful, and he now accuses the couple of misusing the money for personal gains.
The Economic Offences Wing (EOW) has launched a detailed investigation into the matter, scrutinizing the financial transactions, agreements, and possible misappropriation of funds.
