Raj Kundra was questioned by the Economic Offences Wing (EOW) of the Mumbai Police on Monday (September 15) in connection with Rs 60 crore fraud case. As reported by the Free Press Journal, Kundra was grilled
by the agency for five hours, during which he was asked about his bank statements and other expenses.
Reportedly, during the interrogation, Kundra admitted that nearly Rs 60 crore was invested across five companies – Satyug Gold, Vihaan Industries, Essential Bulk Commodities Pvt Ltd, Best Deal, and Statement Media. However, investigators suspect that these funds were diverted to related parties or used for other frivolous expenses.
Besides this, Raj Kundra was also asked about Rs 3.15 crore expense on a warehouse on Rs 20 crore on broadcasts, and payments for a rented office in Matunga. The EOW also asked the businessman about Rs 4 crore, which has been paid as “salary” to a celebrity. The agency also noticed that Kundra had made a payment to Ekta Kapoor’s Balaji Telefilms and asked the businessman to provide details about the same.
Sources say that Raj Kundra is likely to be summoned again in the coming days. Reportedly, his wife, Shilpa Shetty, is also likely to be questioned soon.
What Is Raj Kundra’s Rs 60 Crore Cheating Case?
In August 2025, Raj Kundra and his wife, Shilpa Shetty, were booked by the Economic Offences Wing (EOW) for allegedly cheating a Mumbai-based businessman of Rs 60.4 crore in connection with a loan-cum-investment deal. Another unknown person was also charged in connection with the incident.
The complainant, Deepak Kothari, has alleged that the couple defrauded him of over Rs 60 crore, which involved Shetty and Kundra’s now-defunct company, Best Deal TV Pvt Ltd. According to Kothari, he invested the amount between 2015 and 2023 under the pretext of expanding a business, but the money was allegedly misused for personal expenses. EOW is now investigating the case.
Shilpa Shetty, Raj Kundra Call Allegations ‘Baseless’
Previously, Shilpa Shetty and Raj Kundra’s lawyer denied the allegations, saying they were purely civil in nature and had been adjudicated by the NCLT Mumbai on October 4, 2024. “This is an old transaction, wherein the company went into financial distress and eventually got entangled in a long legal battle at the NCLT. There is no criminality involved, and our auditors have submitted all the necessary supporting documents from time to time, as requested by the EOW, including detailed cash flow statements,” said advocate Prashant Patil.
“The investment agreement in question is purely in the nature of an equity investment. The company has already received a liquidation order, which has also been placed before the police department. The concerned Charter accounts have visited the police station for the last one year for more than 15 times with all the evidence supporting the claims of my clients,” the lawyer added.
Patil called the case “baseless and malicious”, which was aimed at maligning Kundra and Shetty. He also said appropriate action is being initiated from their side against the perpetrators.
