Shilpa Shetty & Raj Kundra Face ₹60 Crore Fraud Allegations

Bollywood actress Shilpa Shetty and her businessman husband Raj Kundra have been accused of defrauding Mumbai-based businessman Deepak Kothari of ₹60.48 crore. The complaint, filed with Mumbai Police’s Economic Offences Wing (EOW), alleges the funds were misused for personal expenses rather than business purposes.

Kothari, director of Lotus Capital Financial Services, claims he was introduced to the couple in 2015 by an intermediary, Rajesh Arya. At the time, Shilpa and Raj were majority stakeholders (87.6%) in Best Deal TV Pvt Ltd, a home shopping and online retail venture. Initially approached for a ₹75 crore loan at 12% interest, Kothari says he was persuaded to treat the transaction as an “investment” to avoid higher taxation, with promises of monthly returns and principal repayment.

He alleges transferring ₹31.95 crore in April 2015 under a share subscription agreement, followed by ₹28.53 crore in September 2015 under a supplementary deal. Both amounts were credited to Best Deal TV’s HDFC accounts.

According to Kothari, repeated recovery attempts through Arya failed, prompting legal action. The EOW is now investigating, given the amount exceeds ₹10 crore. The case adds to a series of controversies involving the couple, already under scrutiny in previous business dealings.

Verdict: The allegations, if proven, could lead to significant legal repercussions for Shetty and Kundra, casting another shadow over their public image.

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