• Source:JND
Add as a preferred

Shilpa Shetty-Raj Kundra Fraud Case: The Bombay High Court has rejected a request made by Bollywood actress Shilpa Shetty and her husband, businessman Raj Kundra, to travel abroad for a family holiday in Phuket, Thailand. Their plea was dismissed as both are currently facing serious allegations in connection with a Rs 60 crore fraud investigation. The court’s decision comes after they sought suspension of a lookout circular issued against them, stating that they had already booked flights and accommodation for their trip between October 2 and October 5.

Shilpa Shetty and  Raj Kundra argued through their lawyers that despite being under investigation since 2021, they have always returned from foreign trips and cooperated fully with authorities. However, the High Court was not convinced and denied their request. Their lawyers, Niranjan Mundargi and Keral Mehta, told the court that their clients’ history of cooperation should have allowed them permission to travel. The case originated after a complaint was filed by Deepak Kothari, director of Lotus Capital Financial Services. Kothari alleged that he invested Rs 60.48 crore between 2015 and 2023 into Best Deal TV Pvt. Ltd., a company linked to Shilpa Shetty and Raj Kundra. He claims the money, which was meant for business expansion, was instead diverted for personal use.

 
 
 
View this post on Instagram

A post shared by Shilpa Shetty Kundra (@theshilpashetty)

Meanwhile, following a preliminary investigation, Mumbai Police’s Economic Offences Wing (EOW) booked Shetty, Kundra, and another accused under IPC sections 403 (dishonest misappropriation of property), 406 (criminal breach of trust), and 34 (common intention). Investigators claim to have traced nearly Rs 25 crore of the amount to different parties, including transactions with four actresses and several production houses such as Bipasha Basu, Neha Dhupia, and Balaji Entertainment.

In addition to the fraud case, Raj Kundra is also under the scanner of the Enforcement Directorate (ED) for alleged cryptocurrency dealings. According to the ED’s chargesheet, Kundra is the beneficial owner of 285 Bitcoins valued at more than Rs 150 crore. These Bitcoins were allegedly received from the late crypto scam mastermind Amit Bhardwaj. The ED chargesheet stated, “it can be safely concluded that the agreement was actually between Raj Kundra and Amit Bhardwaj and the argument given by Kundra that he acted as a mere mediator is not tenable." Investigators also allege that Kundra layered transactions to make the cryptocurrency appear legitimate and even conducted a deal with Shilpa Shetty “at a far below market rate" to disguise its origins. Despite multiple opportunities since 2018, Kundra has reportedly failed to provide full wallet details, citing excuses such as a damaged phone. The ED believes this was an attempt to hide or destroy evidence.

ALSO READ: Shilpa Shetty’s Husband Raj Kundra Under ED Probe For Holding 285 Bitcoins Valued At Rs 150 Crore

Recently, reports emerged claiming that Rs 15 crore was transferred to a company owned by Shilpa Shetty. Her legal team strongly denied these claims. Her lawyer issued which stated, “At the outset, we would like to state that this information is totally fake and mischievous, intentionally planted in the public domain to defame my client." The statement further added, “No such amount was ever received by my client Mrs Shilpa Shetty Kundra and at this stage, we cannot reveal anything further as the matter is sub judice." The lawyer also stressed that Shetty will continue to cooperate with authorities but will not tolerate what they describe as a “defamatory campaign.” The statement concluded, “My clients are moving the Honourable Bombay High Court for seeking relief against the defamatory campaign adopted by certain media outlets… for all the articles, whomsoever have published online news about fake stories and unverified facts shall face the consequences for their actions in the court of law."