Businessman and Bollywood actress Shilpa Shetty’s husband, Raj Kundra, has once again landed in legal controversy. The Economic Offences Wing (EOW) of Mumbai Police is probing an alleged ₹60 crore fraud linked to his now-defunct company, Best Deal TV Pvt Ltd. Authorities have even issued a lookout notice against both Kundra and Shetty after reviewing their travel details, tightening scrutiny around the high-profile couple.
The Allegation: ₹60 Crore Deal Under the Scanner
The complaint has been filed by businessman Deepak Kothari, who alleges that he was misled into making investments worth more than ₹60 crore between 2015 and 2023. According to Kothari, the deal was pitched as a loan-cum-investment aimed at strengthening Best Deal TV Pvt Ltd, a home shopping television channel. However, he now accuses Kundra and Shetty of diverting the funds for personal expenses rather than business operations, calling it a clear case of cheating and misappropriation.
Kundra Seeks More Time, Faces EOW Questioning
The case was officially registered in August 2025, following which Raj Kundra was summoned by the EOW. Initially seeking more time to appear, Kundra is now expected to face investigators. The EOW’s priority remains to trace the financial transactions and determine whether the alleged misuse of funds constitutes criminal misconduct.
Legal Defence: “No Criminality Involved”
Raj Kundra and Shilpa Shetty have strongly denied all charges. Their lawyer, Prashant Patil, dismissed the allegations as “baseless and malicious,” arguing that the matter is civil, not criminal. He clarified that the dispute had already been addressed by the National Company Law Tribunal (NCLT), where the company went through liquidation proceedings. Patil emphasized that the investment was strictly an equity arrangement, not a loan, and hence cannot be classified as fraud.
He further highlighted that auditors and chartered accountants have cooperated extensively with authorities, submitting cash flow statements and financial records on multiple occasions. According to him, this clearly demonstrates transparency rather than wrongdoing.
What Lies Ahead
While the defence insists on the civil nature of the dispute, the EOW continues to verify whether elements of criminality are present. With Kundra’s questioning scheduled, the next developments could decide whether this case escalates into a larger financial scandal or remains a business dispute caught in prolonged legal battles.
