The Mumbai Police have issued a Lookout Circular (LOC) against actress Shilpa Shetty and her husband Raj Kundra in connection with a Rs. 60 crore cheating case. The Economic Offences Wing (EOW) initiated this move because the couple frequently travel abroad, raising concerns about possible evasion during the investigation.
The case was registered on August 14 at Juhu police station following a complaint by businessman Deepak Kothari. He alleged that Shilpa Shetty and Raj Kundra defrauded him through their now-closed company, Best Deal TV Pvt. Ltd. According to the complaint, between 2015 and 2023, the duo diverted company funds for personal use.
Kothari revealed that he was introduced to the couple by Rajesh Arya. At the time, Shilpa Shetty and Raj Kundra reportedly owned 88% of the company. Initially, they requested a Rs. 75 crore loan at 12% interest. However, they later suggested he treat the amount as an investment to avoid taxes, assuring him of monthly returns and repayment.
Trusting their assurance, Kothari invested Rs. 31.95 crore in April 2015 and another Rs. 28.53 crore in September 2015, transferring the funds to the company’s HDFC Bank accounts. In 2016, Shilpa resigned as director, and by 2017, insolvency proceedings had begun after the company defaulted on payments.
The EOW is now investigating the matter from all angles, while the LOC ensures that the couple cannot leave the country without clearance. This development adds to the ongoing controversies surrounding Raj Kundra, who has faced multiple legal troubles in recent years.
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