The Accusations Unfold
The complainant alleges a defrauding of over Rs 60 crore involving Shetty and Kundra's former company, Best Deal TV Pvt Ltd. The money, invested between
2015-2023, was supposedly diverted for personal use instead of business expansion, which was the initial purpose of the investment.
The Financial Details
The complainant transferred Rs 31.9 crore in April 2015 and another Rs 28.53 crore in September 2015. The couple allegedly sought a Rs 75 crore loan at 12% interest but convinced him to invest to avoid higher taxation, promising returns.
Company's Business Ventures
Shilpa Shetty and Raj Kundra, directors of Best Deal TV Pvt Ltd, held 87.6% of the company's shares. The company was introduced to the complainant by Rajesh Arya. Later, the company entered bankruptcy in 2017 after defaulting on a different agreement.
Legal Stance & Response
The FIR, initially filed at Juhu police station, was transferred to EOW due to the amount involved. Shetty resigned as director in September 2016, despite offering a guarantee in April 2016. The couple's lawyer claims the issue is civil and resolved by NCLT.
