Allegations Against Shilpa Shetty and Raj Kundra over ₹60 Crore Fraud

Bollywood actor Shilpa Shetty and her spouse Raj Kundra are facing serious allegations of fraud totalling ₹60.4 crore. The Mumbai Police have initiated a case against the couple stemming from a complaint filed by a local businessman, Deepak Kothari, who alleges he was defrauded through a scheme related to their now-defunct company, Best Deal TV Private Limited.

The complaint was registered on 13 August 2025 at the Juhu Police Station. Kothari, who is the director of Lotus Capital Financial Services, claims he was introduced to Shetty and Kundra through a mutual acquaintance. The couple sought a loan of ₹75 crore from Kothari for their business, which was presented as an investment to evade higher taxes, according to the allegations.

Kothari asserts he transferred a total of ₹60.4 crore between April and September 2015, with the expectation of receiving monthly returns and eventual repayment of the principal amount. However, he claims that money was misappropriated for personal expenses rather than being used for business expansion as promised.

In 2016, after Shetty resigned from her directorial position at Best Deal TV, Kothari discovered that the company had been facing insolvency proceedings for failing to meet its financial obligations. The allegations suggest that the couple diverted funds received under the pretext of investment.

Responses from Shetty and Kundra  

In reaction to the allegations, the legal representative for Shetty and Kundra described the accusations as "baseless and malicious". The lawyer argued that the case is predominantly civil in nature and had already been deliberated by the National Company Law Tribunal (NCLT) in Mumbai in October 2024.

The couple's lawyer stated, "There is no criminality involved and our auditors have submitted all the necessary supporting documents from time to time, as requested by the Economic Offences Wing (EOW), including detailed cash flow statements," emphasising that the agreements in question were essentially equity investments.

Legal Context  

Best Deal TV Private Limited was a home shopping and online retail entity that has since ceased operations. Following the couple's declaration that they are prepared for legal proceedings, they reiterated their commitment to contest the allegations rigorously. They have also mentioned that a liquidation order related to the company has been previously communicated to the authorities.

This incident is not the first time Raj Kundra has been mired in controversy. Last year, he was embroiled in a separate money laundering investigation conducted by the Enforcement Directorate, and in 2021, he was arrested for allegedly producing and distributing adult films, later being granted bail.

With the case now being handled by the Economic Offences Wing, investigators will be looking closely at the financial transactions and agreements made between Kothari and the couple during the period in question. The ongoing investigation may involve scrutiny of the financial practices employed by Best Deal TV and the roles of its directors.

As the situation develops, both parties are expected to present their cases in court, with Kothari insisting on the recovery of the funds he claims were misused, while Shetty and Kundra maintain their innocence, seeking to clear their names in what they allege is a misleading narrative. 

The outcome of the case could have significant implications not only for the individuals involved but also for public perceptions of celebrity business ventures and accountability in financial dealings within the entertainment industry.