Actor Shilpa Shetty and businessman Raj Kundra face fresh allegations of defrauding a Mumbai investor through their now-defunct shopping channel, Best Deal TV Pvt. Ltd., intensifying their ongoing legal battles.
In yet another twist to their legal woes, Bollywood actor Shilpa Shetty and her husband, businessman Raj Kundra, have been accused of orchestrating a Rs 60 crore fraud involving their now-defunct company, Best Deal TV Pvt. Ltd.
The complaint, filed by Deepak Kothari, director of Lotus Capital Financial Services, claims the couple, who allegedly held over 87% stake in the venture, lured him into routing Rs 60 crore as “investment” instead of a loan. Kothari alleges that in 2015, the couple initially sought Rs 75 crore at 12% interest, but persuaded him to opt for an investment model to “save on taxes,” promising regular returns and repayment of the principal.
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As per the complaint, Kothari first transferred Rs 31.95 crore in April 2015 through a share subscription agreement, and later, in September 2015, added another Rs 28.53 crore under a supplementary deal. He alleges the entire amount went into Best Deal TV’s HDFC Bank accounts.
However, Shetty resigned as director in September 2016, and a year later, the company faced insolvency proceedings for defaulting on other agreements. Kothari alleges repeated recovery attempts through mediator Rajesh Arya failed, and that the couple “dishonestly used” his money for personal gain.
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Given the high value of the alleged fraud, the case has been transferred to Mumbai’s Economic Offences Wing (EOW). The charges add to Shetty and Kundra’s mounting legal troubles, as earlier this year, they were accused in a separate gold scheme fraud complaint.
This latest allegation could prove to be another storm in the couple’s already turbulent legal journey.
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