Mumbai: Actor Shilpa Shetty and her businessman husband Raj Kundra have approached the Bombay High Court, seeking to quash a Rs60-crore cheating case filed against them by the Mumbai Police’s Economic Offences Wing (EOW).
In addition to quashing the FIR, the couple has also requested the court to direct the police not to file a chargesheet or take any coercive action against them while their petitions are pending.
On Monday, a bench of Chief Justice Shree Chandrashekar and Justice Gautam Ankhad directed the couple to provide a copy of their petitions to the complainant, Deepak Kothari, and scheduled the next hearing for November 20.
Complainant Alleges ₹60-Crore Investment Misused
Kothari, director of Lotus Capital Financial Services Ltd, alleged that between 2015 and 2023, Shetty and Kundra induced him to invest Rs60 crore in their company, Best Deal TV Pvt Ltd, promising business expansion and monthly returns. However, he claimed that the funds were diverted for their “personal benefits.”
The FIR stated that the deal was struck during a 2015 meeting at a five-star hotel in Juhu, attended by Kundra, Shetty and Kothari. The couple allegedly persuaded Kothari to route the money as an “investment” instead of a loan to avoid higher taxation, while assuring repayment of the principal amount.
Shetty, Kundra Call FIR ‘False and Malicious’
In their petitions, Shetty and Kundra described the FIR as “false, distorted, and maliciously filed with an ulterior and malafide motive to extort money”. They argued that the matter was purely civil and contractual, stemming from a failed business venture rather than criminal wrongdoing.
The couple maintained that Best Deal TV’s collapse was due to “unforeseen economic circumstances”, especially demonetisation in November 2016, which badly affected cash-based businesses. They asserted that the losses were “merely business losses and not due to any fraudulent design or criminal conspiracy.”
Shetty further claimed she had no role in the company’s day-to-day operations and was only associated with it briefly.
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Related Proceedings and Court Directions
Last month, Shetty withdrew her interim plea to travel abroad in October in a separate matter challenging a Look Out Circular (LOC) issued against her and Kundra. The HC had at the time orally asked the couple to deposit Rs 60 crore before pursuing their request to travel overseas. The matter will now be heard on November 20.
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