Shilpa Shetty And Raj Kundra To Receive A Lookout Notice In Fraud Case? Here's What We Know

Shilpa Shetty and Raj Kundra are in legal trouble after a Mumbai-based businessman, Deepak Kothari, accused the couple of defrauding him of about ₹60 crore. While the couple has already denied the allegations, a report suggested that the Mumbai Police is preparing a lookout notice against the celebrity couple. The case, which is being investigated by the Economic Offences Wing (EOW), is going through their travel logs, and if needed, a lookout notice will be issued, according to a media report. Meanwhile, the police have called the firm's auditor for questioning.

What is the Raj Kundra and Shilpa Shetty cheating case about?

According to businessman Deepak Kothari, director of Lotus Capital Financial Services, Shilpa and Raj took ₹60.48 crore from him between 2015 and 2023. He gave the amount under a loan-cum-investment deal for their now-defunct company, Best Deal TV Pvt Ltd, but instead used it for personal expenses.

He filed a complaint at Juhu Police Station under sections related to cheating and forgery. However, the couple called the allegations "baseless".

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What did Raj Kundra and Shilpa Shetty’s spokesperson say about the case?

The news first erupted in August, and soon the couple's advocate addressed the media, narrating the couple's side of the story. Advocate Prashant Patil issued a statement, “My clients have been informed by certain segments of electronic and print media that an alleged case has been registered against them at the Economic Offences Wing, Mumbai. At the outset, my clients deny all the allegations, which are purely civil in nature and have already been adjudicated by the NCLT Mumbai on 04/10/2024."

The advocate described it as an old business deal that became a legal issue after financial difficulties. He said, “There is no criminality involved. Our auditors have regularly provided the EOW with all required supporting documents, including detailed cash flow statements.”

He explained that the investment agreement was similar to an equity investment and that the company had already obtained a liquidation order, which was also submitted to the Police Department.

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