Bollywood actress Shilpa Shetty and her husband, businessman Raj Kundra, are embroiled in a high-profile legal battle following allegations of defrauding a Mumbai-based businessman of Rs 60 crore. The accusations, linked to their now-defunct online shopping venture, Best Deal TV Pvt Ltd, claim the couple misused funds intended for business expansion for personal expenses.
The case, now under investigation by the Economic Offences Wing (EOW) in Mumbai, has drawn significant attention due to the celebrity couple’s prominence.
Allegations of Misused Funds and Broken Promises
Mumbai businessman Deepak Kothari alleges that between 2015 and 2023, he invested Rs 60.48 crore in Best Deal TV after being approached by an agent, Rajesh Arya, in 2015. At the time, Shilpa Shetty held over 87% of the company’s shares and, alongside Kundra, served as a director.
Kothari claims Arya proposed a loan of Rs 75 crore at 12% annual interest, later restructured as an “investment” to avoid high taxes. After a meeting, Kothari transferred Rs 31.95 crore in April 2015, followed by Rs 28.54 crore between July 2015 and March 2016, along with Rs 3.19 lakh in stamp duty.
Shetty reportedly provided a personal guarantee in April 2016, but resigned as director in September of that year. Kothari alleges that his funds were diverted for personal use, and his repeated demands for repayment were ignored, especially after an undisclosed insolvency case of Rs 1.28 crore surfaced against the company.
Legal Action and the Couple’s Defense
The complaint, initially filed at Juhu Police Station for charges of cheating and forgery, was escalated to the EOW due to the substantial amount involved. Kothari accuses Shetty and Kundra of orchestrating a deliberate scheme to siphon off the invested funds.
In response, the couple, through their advocate Prashant Patil, has vehemently denied the allegations, stating, “This is nothing but a baseless and malicious case aimed at maligning our clients, and appropriate action is being initiated from our side against the perpetrators.”
ALSO READ: Radhika Apte exposes Bollywood’s lack of empathy during her pregnancy
They assert that the dispute is civil in nature and lacks any criminal basis, vowing to take legal action against those responsible for the accusations.
The ongoing EOW investigation will determine the validity of the claims, casting a spotlight on the financial dealings of one of Bollywood’s most recognized couples.
