Overview of the Allegations
Bollywood actress Shilpa Shetty and her husband, businessman Raj Kundra, are facing serious legal trouble after being booked by Mumbai Police’s Economic Offences Wing (EOW) in a ₹60 crore fraud case. The complaint was filed by Deepak Kothari, director of Lotus Capital Financial Services, who claims the couple misused funds intended for business expansion.
💼 The Business Deal Gone Wrong
Between 2015 and 2023, Kothari allegedly transferred ₹60.48 crore to Best Deal TV Pvt Ltd, a now-defunct company owned by Shetty and Kundra. Initially presented as a loan with 12% interest, the transaction was later restructured as an “investment” to avoid tax liabilities. Despite promises of monthly returns and principal repayment, the company collapsed in 2017.
🧾 Timeline of Transactions
- April 2015: ₹31.95 crore transferred under a share subscription agreement.
- September 2015: ₹28.53 crore transferred under a supplementary agreement.
- April 2016: Shilpa Shetty offered a personal guarantee.
- September 2016: Shetty resigned as director.
- 2017: Insolvency proceedings initiated against Best Deal TV.
🎙️ Viral Audio & Public Reaction
An alleged audio call between Raj Kundra and Deepak Kothari has surfaced online, intensifying public scrutiny. While the authenticity of the clip remains unverified, it reportedly includes discussions about the disputed funds. Social media is abuzz with mixed reactions—some supporting the couple, others demanding strict legal action.
⚖️ Legal Response & Court Proceedings
The couple’s legal team, led by Advocate Prashant Patil, denies any criminal wrongdoing, stating the matter is civil and was previously adjudicated by the National Company Law Tribunal (NCLT) in October 2024. They claim full cooperation with authorities and have submitted all necessary documentation.
🎥 Impact on Bollywood & Business Circles
The case has sent shockwaves through both the entertainment and corporate sectors. Shilpa Shetty, known for her work in films and wellness ventures, and Raj Kundra, previously embroiled in a 2021 adult content case, now face renewed scrutiny. Industry insiders are watching closely as the investigation unfolds.
🔍 What’s Next?
Mumbai Police are currently examining financial records, company documents, and bank transactions. The outcome of this case could set a precedent for celebrity accountability in financial dealings.