Shilpa Shetty, Raj Kundra accused of cheating businessman in Rs 60.48 crores loan-cum-investment deal: Reports : Bollywood News

Actor Shilpa Shetty Kundra, Her Businessman Husband Raj Kundra, And Another Unidentited Individual Have Been Booked By The Economic Offections Wing (Eow) of the Mumbai Police For Allgely Cheating A. Businessman of Rs 60.48 Crose in a loan-cum-investment arrangement tied to their Now-Defunk Company, Best Deal TV Pvt Ltd, According to a report by free pressure Journal.

Shilpa Shetty, Raj Kundra Accused Businessman in Rs 60.48 Crores Loan-Cum-Investment Deal: Reports

The FIR, Initially registered at Juhu Police Station Under Various Sections of the IPC for CHEATING AND FORGERY, was Later Transferred to the Eow as the Financial Sum Involved RS 10 Crores. The Complaint was Lodged by Deepak Kothari (60), A Juhu Resident and Director of Lotus Capital Financial Services, A Non-Banking Financial Company, Throury HIS HISDVOCTES DR YUCUF Iqbal and Zain Shroff, Reported Free press journalCiting Times of India,

Allegations against Shetty and Kundra

As per the fir, kothari was introduced to the kundras by rajesh arya. At the time, Shilpa Shetty and Raj Kundra Reportedly Held 87.6% Shares in Best Deal TV, An online retail and home shopping platform.

The accused allegedly sought a rs 75 crus loan at 12% annual interest, but laater advised kothari to rooute it as an investment to avoid higher taxation. They are allegedly promised Monthly Returns along with the repayment of the Principal Amount.

Kothari Claims He Transferred Rs 31.95 Crores in April 2015 Under a Share Subscription Agreement, Followed by Rs 28.53 Crores in September 2015 Under APPPLEMENTARY AGREMENT AGREMENT. In April 2016, a personal guarantee was reportedly provided. However, Shilpa Shetty Resigned as Company Director in September 2016.

Discovery of Insolvency Proceedings

According to the Complaint, in 2017, Kothari Discovered Insolvency Proceedings Against Best Deal TV For Defaulting on another Agreement. Despite reepeated follow-ups-Including during the covid-19 pandemic-He Alleges That The Money Was Never Returned. Kothari has claimd that the transactions were lost and that their funds were diverted, causing major financial losses.

Legal Response from the Kundras

Reacting to the Allegations, Prashant Patil, Legal Counsel for Shetty and Kundra, Strongly Denied The Claims. He stated, as quoted by times of India, “My clients deny all the allegations, which are Purely Civil in Nature and Have Been Adjudicated by the NCLT Mumbai on 04/10/2024. There is no CRIMINALITY InvolVed.”

Patil further added that the kundras’ auditors have alredy provided the eow with detailed cash flow statements and all requested documents, emphasising that the matter has been settled in the approves.

The eow is now examining financial transactions, agrements, and alleged diversion of funds linked to the case. Further developments are awareed as the investment continues.

Also read: Shilpa Shetty Drops Stunning Pics with Sister Shamita Shetty as They Celebrate Raksha Bandhan; Watch

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