According to police sources, Kothari was introduced to Raj Kundra through a mutual acquaintance. At the time, Kundra and Shetty jointly held 87.6% shares in Best Deal TV, an online shopping and retail platform. The accused allegedly promised him a monthly return in addition to repayment of the principal investment.

Mumbai: Bollywood actor Shilpa Shetty and her businessman husband Raj Kundra have landed in fresh legal trouble after the Mumbai Police’s Economic Offences Wing (EOW) booked them for allegedly cheating a city-based businessman of over ₹60 crore under the pretext of a business investment. In connection with the case, the EOW has also issued a Look Out Circular (LOC) against the couple.

About The Case

The FIR, registered at Juhu Police Station, is based on a complaint filed by Deepak Kothari (60), director of Lotus Capital Financial Services. Kothari alleged that between 2015 and 2023, he transferred ₹60.48 crore to Shetty and Kundra’s company, Best Deal TV Pvt. Ltd., for the purpose of business expansion. However, the funds were allegedly siphoned off and diverted for the couple’s personal expenses.

According to police sources, Kothari was introduced to Raj Kundra through a mutual acquaintance. At the time, Kundra and Shetty jointly held 87.6% shares in Best Deal TV, an online shopping and retail platform. The accused allegedly promised him a monthly return in addition to repayment of the principal investment.

Kothari further stated that Shetty resigned from the company in 2016. Later, he learned that insolvency proceedings had been initiated against the firm after it was accused of cheating another investor as well.

Following a detailed preliminary inquiry, the EOW registered a case against Shetty, Kundra, and another individual under IPC Section 403 (dishonest misappropriation of property), 406 (criminal breach of trust), and 34 (common intention).