Shilpa Shetty-Raj Kundra Cheating Case: Couple Denies All Allegations, Calls ₹60 Crore Fraud Accusations 'Baseless and Malicious'

Raj Kundra and Shilpa Shetty are making top headlines on August 14, but for the wrong reasons. The couple have been reportedly booked by the Economic Offences Wing (EOW) for allegedly cheating a Mumbai-based businessman, Deepak Kothari, of ₹60 crore. Soon after, their advocate, Prashant Patil, issued a statement calling the case "baseless" and claiming it is intended to tarnish the reputation of his clients.

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

While addressing the media, Raj Kundra and Shilpa Shetty’s advocate Prashant Patil issued a statement and quoted, “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.

Patil added, “The chartered accountants concerned have visited the police station more than 15 times in the past year, submitting all evidence to support our clients’ claims. This is simply a false and malicious case intended to damage our clients’ reputation, and we are taking appropriate legal action against those responsible.”

Also Read: Shilpa Shetty, Husband Raj Kundra Booked For Allegedly Cheating Businessman Of Rs 60 Crore

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

As per the businessman Deepak Kothari, director of Lotus Capital Financial Services, a non-banking financial company, Shilpa Shetty and Raj Kundra took ₹60.48 crore between 2015 and 2023. He alleged that the couple obtained 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.

The complaint was first lodged at Juhu Police Station under sections related to cheating and forgery. However, due to the case involving over ₹10 crore, the investigation was handed over to the EOW after a preliminary inquiry.

The matter is currently under investigation.