• Source:JND
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Shilpa Shetty’s husband, Raj Kundra, is in big trouble as he has been summoned by The Economic Offences in connection with a Rs 60.48 crore fraud case. The businessman has been asked to appear for questioning in the case on September 15. On September 5, the Mumbai police had issued a lookout circular against Shilpa and Raj, as they make frequent international trips. The fraud case was against the Bollywood couple at the Juhu police station on August 14 for allegedly duping a businessman for around Rs 60 crore in loan cum investement deal.

The fraud case was transferred to the EOW for investigation. The complaint was made by businessman Deepak Kothari, who is a resident of Juhu. He is the director of a non-banking financial company (NBFC) named Lotus Capital Finance Services. As per the complaint, he came in contact with Kundra and Shetty through Rajesh Arya. They were the directors of Best Deal TV Private Limited, which is a home shopping and online retail platform. Via Arya, the couple sought a loan of Rs 75 crore to avoid higher taxation and showed it as an investment.

Shilpa Shetty and Raj Kundra promised monthly returns and repayment of the principal amount. As per the FIR, the complainant claimed that he transferred Rs 31.9 crore in April 2015, which is under a share subscription agreement. It was followed by another Rs 28.53 crore under supplementary agreement in September of the same year.

Also read: Revisiting Shilpa Shetty And Raj Kundra’s Biggest Controversies: From Rs 60 Crore Fraud To Pornography Case

After providing a personal guarantee in April 2016, Shilpa Shetty resigned from the position of director of the company in September. Deepak Kothari found that insolvency proceedings were against the company in 2017 for defaulting on another agreement. Kothari alleged that he provided a loan for business. The money was allegedly diverted for personal use by accused person.

Also read: Shilpa Shetty Married Raj Kundra On One Condition, Businessman Gets Candid

Kothari approached by Mumbai Police with a complaint against the actress, her husband and other unknown persons based on which case was registered.

Later, a statement was issued by Shetty and Kundra’s lawyer in connection with the fraud case. It stated that his clients deny all allegations that are civil in nature and have been adjudicated by the National Company Law Tribunal (NCLT) Mumbai on October 4, 2024.