Bollywood actor Shilpa Shetty, husband Raj Kundra booked in fraud case

The couple, and an unknown person, have been accused of cheating Mumbai-based businessman Deepak Kothari of Rs 60.4 crore in a loan-cum-investment deal involving a now-closed company, Best Deal TV Private Limited.

Bollywood actor Shilpa Shetty, her husband, businessman Raj Kundra, and another unknown person were booked in a case of fraud on Thursday.

According to a report by news agency ANI, the Economic Offences Wing (EOW) booked the trio at the Juhu Police Station in Mumbai for allegedly cheating Mumbai-based businessman Deepak Kothari of Rs 60.4 crore in a loan-cum-investment deal involving a now-closed company, Best Deal TV Private Limited.

Commenting on the development, the couple's counsel Advocate Prashant Patil said, "My clients have been informed by certain segment of electronic and print media that there is an alleged case registered against my clients at the Economic offence wing , Mumbai."

"At the outset, my clients deny all the allegations against my clients which are purely civil in nature and have been adjudicated by the NCLT Mumbai on 04/10/2024. This is an old transaction, wherein the company went in to financial distress and eventually got entangled in a long legal battle at the NCLT," he added.

"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," the Adv Patil further said, adding, "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."

More to follow...