Raj Kundra Summoned: Shilpa Shetty’s husband Raj Kundra has landed in legal trouble after being summoned by the Mumbai Police in connection with a Rs 60.48 crore investment fraud case. The Economic Offences Wing (EOW) issued the summons in a case registered at Juhu Police Station on August 14, alleging that the businessman and Traitor’s fame actor duped a businessman in a loan-cum-investment deal.
EOW Summons Raj Kundra
Raj Kundra, who turns 50 today, is facing fresh legal heat. The Mumbai Police had earlier issued a Lookout Circular (LOC) against him and wife Shilpa Shetty to restrict their frequent international travel. The EOW has now summoned Kundra, along with the auditor of the National Company Law Tribunal (NCLT), for questioning. According to NDTV repots, He was initially asked to appear on September 10, but the date was later extended to September 15 after he sought more time to appear.
The couple and other unknown person were booked under IPC sections 403 (dishonest misappropriation of property), 406 (criminal breach of trust) and 34 (common intention).
Raj Kundra Rs 60 Crore Cheating Case
The fresh fraud case being probed by the EOW stems from a complaint filed by Deepak Kothari, a 60-year-old Mumbai-based businessman and director of Lotus Capital Financial Services. He lodged the complaint at Juhu Police Station, alleging that between 2015 and 2023, he invested Rs 60.48 crore in Shilpa Shetty and Raj Kundra’s company, Best Deal TV Private Limited. Kothari has claimed that instead of investing the funds in the company, the couple diverted the money for personal use.
About Raj Kundra Cheating Scandal
According to the complaint, Deepak Kothari was introduced to Raj Kundra through a common acquaintance, Rajesh Arya. At the time, Shilpa Shetty and Kundra were directors of Best Deal TV Private Limited, a home shopping and online retail venture. Through Arya, the couple allegedly sought a Rs 75 crore loan, but to avoid higher taxation, it was shown as an investment at 12% annual interest. They also promised monthly returns along with repayment of the principal.
Although Shetty and Kundra gave a personal guarantee in April 2016, Shilpa resigned as director of the company in September that year. The FIR further states that Kothari transferred the money in tranches through 2015 but later discovered that insolvency proceedings had been initiated against the company for allegedly cheating another investor.
Shetty And Kundra’s lawyer Statement
The couple’s lawyer earlier issued a statement in connection with this cheating case and said his clients deny all the allegations that are purely civil in nature and have been adjudicated by the NCLT Mumbai on October 4, 2024.
The statement reads, “This is an old transaction, wherein the company went into financial distress and eventually got entangled in a long legal battle at the NCLT,”
”There is no criminality involved and our auditors have submitted all the necessary supporting documents from time to time, as requested by the EOW, including detailed cash flow statements”, it concluded.
Traitors fame Raj Kundra will appear for the investigation on September 15.