Why Shilpa Shetty Faces ₹60 Crore Fraud Case

Shilpa Shetty and Raj Kundra are accused of 60 crore fraud. Know what is the whole matter

‘Best Deal’ became ‘Worst Nightmare’

In the glittery world of Mumbai, Bollywood celebrity couple Shilpa Shetty and Raj Kundra are once again in the headlines.

This time the matter is not about films or yoga, but about an alleged fraud of Rs 60.48 crore!

The Economic Offenses Wing (EOW) of Mumbai Police has registered an FIR in this high-profile case.

Who is the complainant?

Deepak Kothari, director of Lotus Capital Financial Services, has alleged that between 2015 and 2023, he gave this amount in the name of investment in the couple’s company “Best Deal TV Private Limited”.

But he claims that this money was not used in business, but for personal expenses!

How did this sequence start?

In 2015, Kothari met Shilpa-Raj through an acquaintance Rajesh Arya.

Initially, a loan of Rs 75 crore (12% interest) was proposed, but later it was converted into an ‘investment’ on the pretext of tax benefits.

When was the money transferred?

April 2015: Rs 31.95 crore (under share subscription agreement)

September 2015: Rs 28.53 crore (under supplementary agreement)

What was Shilpa’s role?

In April 2016, Shilpa gave a personal guarantee, but just five months later, in September 2016, she resigned from the post of director.

Kothari alleges that in 2017, an insolvency case was going on against the company, of which he was not informed!

What is the matter in the eyes of the law?

The EOW has registered a case against the couple under three sections:

IPC Section 403: Dishonest misappropriation of property

IPC Section 406: Criminal breach of trust

IPC Section 34: Offence with common intention

What do Shilpa-Raj have to say?

The couple has called these allegations “baseless and malicious”.

They say that this is an old civil dispute that was settled by the NCLT in 2024 itself.

Their legal team claims that all financial documents and cash flow statements have been handed over to the EOW, and they are fully cooperating in the investigation.

Is this case just a business dispute or something more? There may be many more twists in this case in the coming days.

We will keep you updated!