Mumbai:
Bollywood actor Shilpa Shetty faced questioning by the Economic Offences Wing (EOW) of Mumbai Police on Tuesday in connection with an alleged Rs 60 crore cheating case involving her and husband Raj Kundra. The questioning lasted around four and a half hours, though the precise nature of their involvement remains unclear.
So far, the statements of five individuals, including Raj Kundra, have been recorded by the investigating officers. Earlier in September, the EOW had issued a Look Out Circular against Shilpa Shetty and Kundra over the allegations.
Allegations by businessman Deepak Kothari
The case was filed in August by businessman Deepak Kothari, director of Lotus Capital Financial Services Ltd, who alleged that the couple cheated him of over Rs 60 crore.
Kothari claimed the incidents took place between 2015 and 2023, stating that Shetty and Kundra initially approached him in 2015 for a Rs 75 crore loan for their company, Best Deal TV Pvt Ltd, which promoted lifestyle products and ran an online shopping platform. The proposed interest rate was 12%.
Later, according to Kothari, the couple requested the funds as an “investment” instead of a loan, assuring monthly returns and repayment of the principal. Under this arrangement:
- Rs 31.95 crore was transferred in April 2015 under a share subscription agreement.
- Another Rs 28.53 crore was transferred in September 2015 under a supplementary agreement.
Both amounts were credited to Best Deal TV’s bank accounts.
Repeated attempts to recover the funds allegedly failed, prompting Kothari to accuse the couple of “dishonestly using” the money for personal benefit.
Shilpa and Raj Kundra’s response
The couple’s lawyer, Prashant Patil, denied all allegations, stating:
“We will present our truth before investigating agencies.”
The case continues to be investigated by the Mumbai Police EOW, with further statements and document verification expected in the coming weeks.