Demonetisation, Losses, Denial: What Shilpa Shetty And Raj Kundra Told EOW In Loan Fraud Case

The probe into the alleged ₹60 crore cheating case involving actor Shilpa Shetty and her husband, Raj Kundra, has intensified, with the Mumbai Police’s Economic Offences Wing (EOW) recording fresh statements from the couple as part of the ongoing investigation.

According to officials, Raj Kundra told investigators that his company, which dealt in electrical and home appliances, suffered significant financial losses following demonetisation, which he claimed led to the collapse of his business operations. Kundra reportedly maintained that the losses were not deliberate or due to any fraudulent intent.

Also Read: ‘Deposit Rs 60 Crore First’: Bombay HC Bars Shilpa Shetty, Raj Kundra From Travelling Abroad

In her statement to the EOW, Shilpa Shetty said that she was not involved in the company’s day-to-day functioning and denied receiving any payment for endorsing its products, despite being listed as a brand ambassador. However, investigators have indicated that they are examining the monetary trail linked to her role and payments made under the company’s accounts.

The EOW has already questioned Kundra twice

and may summon him again in the coming weeks as part of efforts to trace the flow of money and verify claims made by both parties. The couple is accused of duping businessman Deepak Kothari of nearly ₹60 crore through a fraudulent loan-cum-investment scheme involving their now-defunct firm, Best Deal TV Pvt Ltd.

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The developments come days after the Bombay High Court ordered the couple to deposit ₹60 crore if they wish to travel abroad, while hearing their plea seeking to quash the Look Out Circular (LOC) issued against them. The court’s directive followed concerns that the duo could leave the country amid the ongoing probe.