Mumbai: Bollywood actor Shilpa Shetty’s husband and businessman Raj Kundra has been summoned by the Economic Offences Wing (EOW) in connection with a ₹60.48 crore cheating case. Kundra, initially asked to appear before investigators on September 10, requested an extension and will now appear on September 15. Meanwhile, a Look Out Circular (LOC) has been issued against the couple to prevent them from leaving the country.
Auditor Also Questioned
A senior EOW official confirmed that summons have also been issued to the auditor of the National Company Law Tribunal (NCLT) for questioning. Both Shetty and Kundra had previously been summoned three times during the preliminary inquiry but cited their stay in London and instead sent their attorney. However, the EOW stated that the information provided by the attorney was inadequate, prompting the registration of a formal FIR.
Complaint by Investor
The FIR, registered at Juhu Police Station, is based on a complaint by Deepak Kothari (60), Director of Lotus Capital Financial Services. Kothari alleged that between 2015 and 2023, he invested ₹60.48 crore in Best Deal TV Pvt. Ltd., a company promoted by Shetty and Kundra, for business expansion. The funds were allegedly siphoned off and diverted for their personal use.
Investment and Promises
Kothari said he was introduced to Raj Kundra by a mutual acquaintance. At the time, Shetty and Kundra jointly held 87.6% shares in Best Deal TV, an online shopping and retail platform. They allegedly promised him monthly returns along with repayment of the principal investment. Shilpa Shetty later resigned from the company in 2016.
Allegations of Insolvency and Fraud
Kothari further discovered that insolvency proceedings had been initiated against the firm after another investor accused them of fraud. Following a detailed preliminary probe, the EOW registered a case against Shilpa Shetty, Raj Kundra, and another individual under IPC Sections 403 (dishonest misappropriation of property), 406 (criminal breach of trust), and 34 (common intention).
