The Economic Offences Wing (EOW) has registered a case against the Bollywood couple Shilpa Shetty and her husband Raj Kundra. The couple are booked under the charge of cheating, Section 420 of the Indian Penal Code.
As per Lokmattimes, a statement was issued by complainant's lawyer that said the witness testimonies and electronic evidence gathered so far points towards the couple being guilty of allegedly frauding the businessman Deepak Kothari of more than Rs. 60 crore. EOW has submitted all the gathered information and evidence to the court.
This development makes the case a scheduled offence under the Prevention of Money Laundering Act. The principal complainant can now take further action and approach Enforcement Directorate (ED). The probe is still underway, and more information may emerge as investigators continue their work.
Shilpa and Raj recently sought permission from the court to go to London to visit his ailing father. However, the court denied it asking the duo to either depost Rs. 60 crore or produce bank guarantee in order to go abroad.
What is Section 420 Of IPC?
Section 420 of the Indian Penal Code (IPC) defines the offence of cheating and dishonestly inducing the delivery of property. Under this provision, a person who deceives someone and, because of that deception, dishonestly persuades the victim to hand over property (or to make, alter, or destroy a valuable security) can be punished with up to seven years' imprisonment and a fine, as per Constituition of Infia.
A case has been registered against Shilpa Shetty and Raj Kundra for allegedly defrauding businessman Deepak Kothari of over Rs. 60 crore. According to the complaint, the couple persuaded Kothari to invest nearly Rs. 60 crore in Best Deal TV Private Limited, a shopping and online retail platform, between 2015 and 2023. It is alleged that the funds were not used for the stated business purposes and were instead diverted for the couple’s personal benefit.
