EOW expands probe into Best Deal Private Limited’s alleged fraud
The Mumbai Police’s Economic Offences Wing (EOW) has summoned four employees of Best Deal Private Limited, a company owned by actor Shilpa Shetty and her husband Raj Kundra, in connection with a ₹60-crore fraud case.
According to officials, one of the four employees has already recorded his statement with the EOW last week, while the remaining three are expected to appear in the coming days. These individuals reportedly held senior management roles in Kundra’s firm during the period in question.
A senior EOW official stated that the questioning aims to verify the company’s financial claims, including whether ₹20 crore was genuinely spent on office furnishings as asserted by Kundra. Investigators are also examining the source of salary payments to employees—whether from the company’s business revenues or other undisclosed channels.
EOW investigates money trail
The EOW is piecing together the money trail to determine if Best Deal Private Limited had sufficient legitimate business activity to justify taking a ₹60-crore loan labeled as an investment. The investigation also involves tracking payments to suppliers and advertisers associated with the firm.
Officials said that once the employees’ statements are recorded, product suppliers and advertising partners linked to the company will also be summoned. Depending on the findings, Raj Kundra may be called in again for further questioning.
Company faced losses after demonetisation
During questioning earlier in October, Kundra reportedly told investigators that his company, which traded in household and electrical appliances, faced severe financial setbacks following the 2016 demonetisation. He claimed that due to the resulting losses, the company was unable to repay borrowed funds.
The EOW registered a case on August 14 against Kundra and Shetty, both directors of the now-defunct Best Deal TV Private Limited, a home shopping and online retail venture. The complaint, filed by businessman Deepak Kothari, alleges that the couple duped him of ₹60 crore in a loan-cum-investment deal between 2015 and 2023.
Kothari further alleged that the couple used the invested funds for personal expenses. In his defense, Kundra claimed that a portion of the ₹60 crore went toward payments made to actors Bipasha Basu and Neha Dhupia for promotional work.
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