In a recent update regarding the Rs 60 crore fraud case involving Shilpa Shetty and Raj Kundra, the Bombay High Court has mandated that the couple must
deposit Rs 60 crore if they wish to leave the country. Shilpa and Raj stand accused of defrauding a businessman of Rs 60 crore. This development follows Shilpa's interrogation by the Economic Offences Wing (EOW) of the Mumbai Police, which lasted approximately four and a half hours. To date, statements from five individuals, including Raj, have been documented. In September, the EOW issued a Look Out Circular against both Shilpa and Raj.
What is the case all about?
The complaint was lodged by businessman Deepak Kothari, who is the director of Lotus Capital Financial Services Ltd. He asserts that the events in question occurred between 2015 and 2023. Kothari claims that the couple solicited funds under the guise of business expansion but instead utilized the money for personal expenditures.
Kothari alleges that in 2015, Shetty and Kundra contacted him via a mediator to request a Rs 75 crore loan for their enterprise, Best Deal TV Pvt Ltd, which focused on lifestyle products and operated an online shopping site. They proposed an interest rate of 12 percent. Subsequently, they allegedly requested that he provide the funds as an 'investment' rather than a loan, promising monthly returns and the return of the principal amount.
He further stated that he transferred Rs 31.95 crore in April 2015 under a share subscription agreement, followed by an additional Rs 28.53 crore in September 2015 under a supplementary agreement. The entire sum was deposited into Best Deal TV's bank accounts. Despite numerous attempts to retrieve the funds, Kothari claims that the couple 'dishonestly used' the money for their own gain.
The attorney for Shilpa and Raj, Prashant Patil, has refuted the allegations, asserting that they will present 'our truth' to the investigative authorities.
(With inputs from ANI)
