Shilpa Shetty, Raj Kundra Asked To Deposit Rs 60 Crore Before Traveling Abroad

In the latest development in the Rs 60 crore fraud case against Shilpa Shetty and Raj Kundra, the Bombay High Court had directed the couple to deposit Rs 60 crore if they want to travel abroad. Shilpa and Raj have

been accused of allegedly cheating a businessman of Rs 60 crore.The latest development comes after Shilpa was questioned by the Mumbai Police's Economic Offences Wing (EOW) for about four and a half hours. So far, the statements of five people, including Raj, have been recorded. A Look Out Circular was issued against Shilpa and Raj by the EOW in September.

What is the case all about?

The complaint, filed by businessman Deepak Kothari, director of Lotus Capital Financial Services Ltd, claims the incidents took place between 2015 and 2023. Kothari alleged that the couple took the money under the pretext of expanding their business but used it for personal expenses instead.According to Kothari, in 2015, Shetty and Kundra approached him through a mediator seeking a Rs 75 crore loan for their company, Best Deal TV Pvt Ltd, which promoted lifestyle products and ran an online shopping platform. The proposed interest rate was 12 per cent. Later, they reportedly asked him to provide the funds as an 'investment' instead of a loan, assuring him of monthly returns and repayment of principal.He further claimed that he transferred Rs 31.95 crore in April 2015 under a share subscription agreement, and another Rs 28.53 crore in September 2015 under a supplementary agreement.The total amount was credited to Best Deal TV's bank accounts. Repeated attempts to recover the funds allegedly failed, and Kothari accused the couple of 'dishonestly using' the money for personal benefit.Shilpa and Raj's lawyer, Prashant Patil, has denied the allegations and said they will present 'our truth' before investigating agencies.(With inputs from ANI)