Lookout Notice Against Shilpa Shetty and Raj Kundra; Details –

Lookout Notice Against Shilpa Shetty and Raj Kundra

The Mumbai Police’s Economic Offences Wing (EOW) has issued a Lookout Circular (LOC) against Bollywood actress Shilpa Shetty and her husband, businessman Raj Kundra, in connection with an alleged ₹60 crore cheating case.

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The case was filed by Juhu-based businessman Deepak Kothari, who alleged that between 2015 and 2023 he invested nearly ₹60 crore in Best Deal TV Pvt. Ltd., a now-defunct home-shopping company linked to the couple. Kothari claimed that the money, given for business expansion, was instead diverted for personal use.

According to the FIR, in April 2015, Kothari transferred ₹31.95 crore under a share subscription agreement, followed by ₹28.53 crore under a supplementary agreement in September 2015. In April 2016, the couple provided a written personal guarantee, but shortly afterward, Shilpa Shetty resigned as a director. Later, the company faced insolvency proceedings, which Kothari says he was not informed about.

Following the complaint, the EOW booked Shetty and Kundra for cheating and criminal breach of trust. The LOC was then issued to ensure the couple, known for frequent international travel, does not leave the country during the ongoing probe.

Responding to the allegations, the couple denied any wrongdoing. Their legal team described the matter as an “old financial transaction” and insisted that there was no criminality involved. They also assured full cooperation with the authorities during the investigation.

The EOW is now examining the financial trail to determine the extent of the alleged fraud. Further action will depend on the findings of the ongoing inquiry.

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