Bollywood actor Shilpa Shetty Kundra and her businessman husband Raj Kundra have been booked by the Economic Offences Wing (EOW) for allegedly defrauding a Mumbai-based businessman of ₹60.4 crore in a loan-cum-investment scam linked to their now-defunct company, Best Deal TV Pvt Ltd.
Businessman Deepak Kothari, director of Lotus Capital Financial Services, claims the couple misused funds given between 2015 and 2023, intended for business expansion, for personal expenses. The case, initially lodged at Juhu police station under charges of cheating and forgery, was transferred to the EOW due to the high amount involved.
According to the FIR, Kothari met the couple through Rajesh Arya. They allegedly sought a ₹75 crore loan at 12% interest but persuaded him to invest instead, promising monthly returns and principal repayment, to avoid higher taxes. Kothari transferred ₹31.9 crore in April 2015 and ₹28.53 crore in September 2015 under two agreements.
Despite giving a personal guarantee in April 2016, Shetty resigned as director by September 2016. By 2017, the company entered bankruptcy proceedings after defaulting on another deal. Investigations are 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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EOW probes Shilpa Shetty, Raj Kundra for allegedly cheating Mumbai businessman in ₹60.4 cr

Shilpa Shetty, Raj Kundra in ₹60 Cr Fraud Case

EOW probes Shilpa Shetty, Raj Kundra for allegedly cheating Mumbai businessman in ₹60.4 cr

August 14, 2025 | 08:56 IST