EOW issues lookout notice for Shilpa Shetty and Raj Kundra in ₹60 crore fraud case

Mumbai Police issues LOC against Shilpa & Raj

Mumbai Police&rsquo;s Economic Offences Wing (EOW) has issued a Look Out Circular (LOC) against actress Shilpa Shetty and her husband, businessman Raj Kundra, in connection with a ₹60 crore fraud case.
The couple is accused of defrauding businessman Deepak Kothari. Investigators are examining the flow of money and reviewing the couple&rsquo;s travel records. The case, which went to the National Company Law Tribunal (NCLT), also involves questioning of the company auditor.
Kothari alleges that between 2015 and 2023, funds provided for business expansion were misused for personal expenses. Initially given as a loan through an agent, the amount later became an &ldquo;investment,&rdquo; with a total of ₹60.48 crore transferred along with stamp duty payments.
Shilpa Shetty, who had provided a personal guarantee in April 2016, resigned as director of Best Deal TV Pvt. Ltd. later that year. Soon after, the company faced an insolvency case of ₹1.28 crore, which Kothari claims he was not informed about.
The EOW has registered an FIR under IPC sections 403, 406, and 34, with the investigation ongoing.
[Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed]
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5 સપ્ટેમ્બર, 2025 | 15:52 IST

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