Shilpa Shetty and Raj Kundra Deny ₹60 Crore Fraud Allegations, Call Claims Malicious and Baseless

Shilpa Shetty-Raj Kundra: A case of fraud of more than ₹ 60 crore has been registered against Bollywood actress Shilpa Shetty and her husband and businessman, Raj Kundra. This complaint has been filed by Deepak Kothari, founder of Lotus Capital Financial Services Limited. He alleges that between 2015 and 2023, the couple took crores of rupees from him in the name of business but used this money for personal expenses.

Loan Taken, Investment Promise Broken

According to Deepak, in 2015 Shilpa and Raj had asked for a loan of ₹75 crore for his company Best Deal TV Private Limited, the interest rate of which was fixed at 12%. Later they proposed to convert it into an investment and assured monthly returns and principal refund. In this sequence, an amount of ₹31.95 crore was deposited in the company's accounts in April 2015 and ₹28.53 crore in September 2015. But despite repeated requests, the money was not returned.

EOW engaged in investigation

Deepak alleges that the couple "dishonestly used" the money for personal gain. The case is with the Economic Offences Wing (EOW), which is now conducting a thorough investigation into the financial transactions, agreements, and alleged misuse of funds.

Amidst these allegations, Shilpa Shetty and Raj Kundra's lawyer, Prashant Patil, issued a statement saying, 'Our clients deny all the allegations against them. This is a matter of a purely civil nature, on which NCLT Mumbai gave its verdict on 4 October 2024.'

Lawyer Responds To Fraud Allegations

The lawyer clarified that this was an old transaction in which the company was caught in a financial crisis, and due to the legal process, its liquidation order has also been received. He said that all the financial documents and cash flow statements have been submitted to the EOW from time to time.

Lawyer Calls Allegations Baseless Conspiracy

Prashant Patil called it a conspiracy to tarnish the image of the couple. According to him, 'The concerned chartered accountant has visited the police station more than 15 times in the last year and presented all the evidence. This case is completely baseless and malicious. Appropriate legal action will be initiated against the culprits.'