Actor Shilpa Shetty, Raj Kundra charged with cheating businessman of ₹60 cr

Bollywood actor Shilpa Shetty has been charged with defrauding a Mumbai-based businessman of ₹60 crore.

 

Shetty, along with her husband, businessman Raj Kundra, has been charged in a case that is linked to loan-cum-investment deal for the couple’s now-defunct Best Deal TV Pvt Ltd, NDTV reported.

 

Deepak Kothari, the alleged victim, said he had given the celebrity couple ₹60.48 crore for business expansion around 2015-2023, but they spent it on personal expenses.

 

Kothari further claimed that he got in touch with Shilpa Shetty and Raj Kundra in 2015, through an agent, Rajesh Arya. During that time, the couple were the directors of Best Deal TV, an online shopping platform. Shilpa Shetty held over 87 per cent shares in the company back then.

 

 

Loan restructured as investment

 

According to Kothari, the agent, Rajesh Arya, had sought a loan of ₹75 crore at 12 per cent annual interest for the company. However, to avoid higher taxes, Arya suggested that he channel the amount as an “investment”. A meeting was then held, and a deal was finalised with a promise of returning the money on time.

 

In April 2015, Kothari transferred the first instalment of ₹31.95 crore; however, a tax issue persisted.

 

Fresh funds and false assurances

 

Soon, a second deal was signed in September. Kothari also claimed that he transferred ₹28.54 crore more between July 2015 and March 2016. 

Besides paying ₹3.19 lakh as stamp duty, Kothari, in total, transferred ₹60.48 crore to the celebrity couple. He further alleged that the actor also assured him of returning the money in April 2016 and gave a personal guarantee. 

Kothari also said that he was unaware of the insolvency case of ₹1.28 crore against the company, and his repeated requests for his money fell on deaf ears.

 

Alleged conspiracy from 2015 to 2023

 

In his complaint, Kothari has accused the celebrity duo of running a well-planned conspiracy between 2015 and 2023, in which they took the money for business expansion purposes and channeled it for personal expenses. 

The case, which was first registered at Juhu Police Station for forgery and cheating, was later handed over to the Economic Offences Wing, since the amount exceeded ₹10 crore.

 

Celebrity couple’s past troubles 

Shilpa Shetty and her husband have previously been embroiled in controversies as well. In 2024, the Enforcement Directorate attached properties worth ₹97.79 crore belonging to the couple, alleging that they had collected huge amounts of funds in the form of Bitcoins. 

Kundra’s residence and offices were also raided in November 2024 in connection with a case of money laundering investigation related to the production and distribution of pornographic content through mobile applications.