Legal Action Initiated Against Shilpa Shetty and Raj Kundra for Alleged Fraudulent Transfer of INR 60 Crores
In a significant turn of events, Bollywood actor Shilpa Shetty and her husband, businessman Raj Kundra, have been formally booked by the Economic Offences Wing (EOW) of Mumbai Police in connection with a ₹60.4 crore fraud case filed by businessman Deepak Kothari.
According to reports, Kothari provided ₹60.48 crore in 2015 under share subscription and supplementary agreements to Best Deal TV Pvt Ltd, a company promoted by the couple but now defunct. Kothari was assured monthly returns and repayment of the principal, but repeated attempts to recover his funds through mediator Rajesh Arya and subsequent efforts failed. Kothari alleges that the money was misused for personal expenses by the couple.
The case involves sections related to cheating, criminal breach of trust, and dishonest misappropriation of property. The case was transferred to the EOW since the amount involved exceeded ₹10 crore. The EOW is currently investigating to trace the money trail and determine each suspect’s role in the alleged conspiracy.
Shilpa Shetty and Raj Kundra have denied the allegations, calling the case "baseless and malicious." Their lawyer, Advocate Prashant Patil, has asserted that there is "no criminality involved" and that all necessary supporting documents have been submitted to the EOW. The lawyer also stated that the investment agreement in question is purely in the nature of an equity investment and that the company has already received a liquidation order.
It is important to note that Shilpa Shetty resigned as the director of Best Deal TV in September 2016. Insolvency proceedings were initiated against Best Deal TV in 2017 for defaulting on another agreement.
Raj Kundra is also under scrutiny in a separate money laundering investigation related to Bitcoin fraud. Kundra stated that he is fully complying with the ongoing investigations.
The latest development comes after Kundra was previously arrested by Mumbai Police in 2021 in an adult content case and later granted bail. In a separate case this year, Shilpa Shetty and Raj Kundra were charged with defrauding an investor in a gold scheme, as alleged by Prithviraj Kothari.
The investigation is ongoing, with the EOW summoning the couple for further questioning. As of mid-August 2025, there is no official resolution yet.
- Amidst the ongoing investigations, Raj Kundra, a celebrity businessman, has simultaneously faced accusations of Bitcoin fraud in a separate case.
- In a statement, Shilpa Shetty and her husband, Raj Kundra, dismiss the fraud case as "baseless and malicious," stating that no criminality is involved.
- While the EOW investigates the money trail and determines each suspect's role in the alleged conspiracy, it's worth noting that the case involves sections related to sports, health, entertainment, general-news, crime-and-justice, and business.
- Although Raj Kundra has called the case "baseless," he was previously arrested by Mumbai Police in 2021 in an adult content case and later granted bail. In another separate case this year, Shilpa Shetty and Raj Kundra were charged with defrauding an investor in a gold scheme, raising concerns about their business dealings.
