THE JHARKHAND STORY DESK
Mumbai, Sept 5: Mumbai Police have tightened scrutiny on Bollywood actor Shilpa Shetty and her husband Raj Kundra by issuing a Lookout Circular (LOC) in connection with an alleged Rs 60 crore fraud case.
The move, initiated by the Economic Offences Wing (EOW), comes amid concerns over the couple’s frequent foreign travel.
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The case traces back to a complaint filed by businessman Deepak Kothari, who claimed that between 2015 and 2023 the duo took around Rs 60 crore from him under the pretext of expanding their venture, Best Deal TV Pvt Ltd, which later shut down.
According to him, the money—originally extended as a loan—was reclassified as an investment to show tax benefits, while large sums were allegedly diverted for personal use.
Kothari said he was promised repayment with 12% annual interest and was even given a written guarantee by Shetty in 2016. However, she soon resigned as the firm’s director, leaving him unaware of an ongoing insolvency case of over Rs 1.28 crore against the company.
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Meanwhile, the EOW has begun examining the couple’s travel history and questioned the firm’s auditor. Both Shetty and Kundra have dismissed the charges, terming them “baseless and malicious,” insisting the case was designed to tarnish their reputation.
