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Shilpa Shetty and Raj Kundra’s legal representatives have reacted to the announcement from the Economic Offences Wing (EOW) regarding their involvement
in allegedly defrauding a local businessman of Rs 60.4 crore through a loan and investment scheme associated with their now-defunct business. Their attorney, in an official statement, refuted the claims. Advocate Prashant Patil further asserted that there is no ‘criminality involved’.
Shilpa Shetty, Raj Kundra's attorney releases statement
The official statement from Advocate Patil stated, “My clients have been made aware by certain segments of the electronic and print media that an alleged case has been filed against them at the Economic Offence Wing, Mumbai. Initially, my clients reject all accusations against them, which are strictly civil matters and have already been resolved by the NCLT Mumbai on 04/10/2024. This pertains to an earlier transaction where the company faced financial difficulties and subsequently became involved in a prolonged legal dispute at the NCLT. There is no criminality involved, and our auditors have consistently provided all required documentation to the EOW, including comprehensive cash flow statements.”
ALSO READ: Shilpa Shetty, Raj Kundra Booked By EOW For Rs 60.4 Crore Fraud Linked To Defunct Firm
It further stated, “The investment agreement in question is solely an equity investment. The company has already received a liquidation order, which has also been submitted to the police department. The relevant chartered accountants have visited the police station over the past year more than 15 times with all evidence supporting my clients' claims. This is nothing more than a groundless and malicious case intended to tarnish our clients' reputation, and we are taking appropriate measures against the offenders.”
Case against Shilpa and Raj
Initially filed at the Juhu police station under sections of the IPC related to cheating and forgery, the case was transferred to the EOW due to the significant monetary amount involved, surpassing Rs 10 crore. The FIR was lodged following an initial investigation based on a complaint from 60-year-old Deepak Kothari, a resident of Juhu and director of Lotus Capital Financial Services, a non-banking financial company (NBFC).
As per Kothari, he was introduced to the couple by Rajesh Arya. At that time, Raj and Shilpa Shetty were the main shareholders in Best Deal TV Pvt Ltd, a home-shopping and e-commerce platform reportedly owning 87.6% of the company’s shares.
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