What did Raj Kundra say on Rs 60 crore fraud?

Raj Kundra told India Today that the allegations of Rs 60 crore fraud are baseless.

Raj Kundra’s clarification

Like the Real Housewives of Salt Lake City, drama is sometimes seen in Bollywood too.

In August 2025, the Economic Offences Wing (EOW) registered a case against Raj Kundra and his wife, Shilpa Shetty, for defrauding Deepak Kothari, a Mumbai businessman, of Rs 60.4 crore.

The allegations are that between 2015 and 2023, money was taken in the name of investment in Best Deal TV Pvt Ltd but it was spent on personal expenses.

What is the matter?

Deepak Kothari claims that he gave crores of rupees to Raj Kundra’s company for expansion, but that amount was spent on personal comforts instead of the purpose.

The EOW registered a report on July 3 and started an investigation, which includes several other allegations of criminal trade passing, money laundering and scam.

Raj Kundra’s reaction

In a conversation with India Today, Raj Kundra clarified, “We have not done anything wrong. The truth will come out soon.

We have never done anything wrong in life and will not do it in the future either.”

He said that at present there is a “wait and watch” policy on the matter because whatever is right will be known with time.

Shilpa Shetty’s denial

Earlier, Shilpa Shetty and Raj Kundra’s lawyer Prashant Patil had also described the allegations as “baseless and of civil nature”.

He said that this matter has already been resolved in NCLT Mumbai on 4 October 2024, the liquidation order of the company is also with the police, and the chartered accountants have submitted the necessary documents.

Lawyer’s arguments

Advocate Prashant Patil said, “We have all the cash-flow statements, audit reports and copies of the investment agreement. This case is just a ploy to tarnish our image.

We are also initiating appropriate legal action.” He also assured to send all the data to EOW.

Way forward

Right now, EOW’s investigation is going on against both Raj Kundra and Shilpa Shetty.

The next hearing is awaited in the court on Deepak Kothari’s complaint.

At present, the legal front of the couple looks strong, but the truth will be decided not today, but tomorrow’s hearing will decide it.

Right now, this filmy-style drama will continue in the courtroom, where every party will present its own story. Let’s see how the truth is revealed with time.