Case linked to investments in now-defunct Best Deal TV
Bollywood actor Shilpa Shetty and her businessman husband Raj Kundra’s legal troubles have intensified, with the Economic Offences Wing (EOW) adding Section 420 of the Indian Penal Code (cheating) to the ongoing probe into an alleged ₹60 crore fraud case, officials said.
The case stems from a complaint filed by businessman Deepak Kothari, who has accused the couple of cheating him through their now-defunct company, Best Deal TV Private Limited.
According to the complaint, between 2015 and 2023, Shilpa Shetty and Raj Kundra allegedly induced Kothari to invest ₹60 crore in the company, assuring returns. However, Kothari has claimed that the funds were instead diverted for personal use.
During the course of the investigation, Raj Kundra reportedly told investigators that a portion of the ₹60 crore was paid as professional fees to actors Bipasha Basu and Neha Dhupia.
Earlier, in October, Kundra had stated that Best Deal TV, which dealt in electrical and household appliances, suffered heavy losses following demonetisation in 2016, leading to a severe financial crisis and the company’s inability to repay borrowed funds.
The complainant’s legal team said the cheating charge was added after fresh evidence emerged during the investigation. The EOW informed the magistrate that it had gathered credible witness testimonies and electronic evidence, indicating that the complainant was allegedly defrauded of more than ₹60 crore.
The complaint alleges that both Shilpa Shetty and Raj Kundra played a role in cheating the investor, prompting investigators to invoke Section 420 based on the findings so far. Given the large sum involved, the complainant is also considering approaching the Enforcement Directorate (ED), sources said.
Recently, the couple sought permission from the Bombay High Court to travel to London, citing Raj Kundra’s father’s illness. The court allowed the request only on the condition that they deposit the entire ₹60 crore amount, as per court records.
The investigation into the alleged financial irregularities remains ongoing, with officials indicating that further legal action may follow.
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