Shilpa Shetty, Raj Kundra Accused of Cheating Businessman of ₹60 Crore

Actor Shilpa Shetty and her husband Raj Kundra have been booked by Mumbai Police’s Economic Offences Wing (EOW) for allegedly cheating a local businessman of ₹60.4 crore in a loan-cum-investment deal linked to their now-defunct company, Best Deal TV Pvt Ltd.

The complainant, Deepak Kothari, claims he was introduced to Shetty and Kundra in 2015 by Rajesh Arya, who sought a ₹75 crore loan for the company at a 12% annual interest rate. To reduce tax liability, the transaction was allegedly framed as an “investment.”

Kothari says he transferred ₹31.95 crore in April 2015 and another ₹28.54 crore between July 2015 and March 2016, along with ₹3.19 lakh in stamp duty — bringing the total to over ₹60.48 crore. He alleges the funds, intended for business expansion, were misused for personal expenses.

Shortly after the transactions, Shetty resigned as director, and an insolvency case of ₹1.28 crore was filed against the company — something Kothari says he was never told about. Despite repeated requests, his money was never returned.

Given the large sum involved, the EOW is now leading the investigation. An unidentified third person has also been named as an accused in the case.