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Indian Express
3 days ago
- Business
- Indian Express
Shilpa Shetty, Raj Kundra claim ‘no criminality involved' in Rs 60 cr cheating case filed against them: ‘Nothing but baseless and malicious'
Actor Shilpa Shetty and her businessman-husband Raj Kundra have issued a statement through their lawyer after a case was filed against them for allegedly cheating a businessman of over Rs 60 crore. The complaint, filed by businessman Deepak Kothari, director of Lotus Capital Financial Services Ltd, claims the incident took place between 2015 and 2023. 'My clients have been informed by certain segment of electronic and print media that there is an alleged case registered against my clients at the Economic offence wing , Mumbai. At the outset , my clients deny all the allegations against my clients which are purely civil in nature and have been adjudicated by the NCLT Mumbai on 04/10/2024. This is an old transaction , wherein the company went in to financial distress and eventually got entangled in a long legal battle at the NCLT,' said Advocate Prashant Patil, who's representing the celebrity couple in the matter. Kothari alleged that the couple took the money under the pretext of expanding their business but used it for personal expenses instead. According to him, in 2015, Shetty and Kundra approached him through a mediator seeking a Rs 75 crore loan for their company, Best Deal TV Pvt Ltd, which promoted lifestyle products and ran an online shopping platform. The proposed interest rate was 12%. Later, they reportedly asked him to provide the funds as an 'investment' instead of a loan, assuring him of monthly returns and repayment of principal. Kothari claimed he transferred Rs 31.95 crore in April 2015 under a share subscription agreement, and another Rs 28.53 crore in September 2015 under a supplementary agreement. The total amount was credited to Best Deal TV's bank accounts. Repeated attempts to recover the funds allegedly failed, and Kothari accused the couple of 'dishonestly using' the money for personal benefit. The Economic Offences Wing (EOW) is currently conducting a detailed investigation into the financial transactions, agreements, and the alleged misappropriation of funds. '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. The investment agreement in question is purely in the nature of an equity investment,' argued Patil, adding, 'The company has already received a liquidation order, which has also been placed before the police department . The concerned Charter accounts have visited the police station for last one year for more than 15 times with all the evidence supporting the claims of my clients.' Also Read — War 2 movie review LIVE Updates: Hrithik Roshan's actioner is Thugs of Hindostan moment for YRF, says analyst; says it falls short of Pathaan, War and Ek Tha Tiger 'This is nothing but a baseless and malicious case aimed at maligning our clients, and appropriate action is being initiated from our side against the perpetrators,' concluded Patil. On the work front, Shetty will be next seen in Prem's Kannada action film KD: The Devil, slated to release in cinemas on September 4. Meanwhile, Kundra was last seen as a contestant on Prime Video India's reality show The Traitors earlier this year.
News18
3 days ago
- Business
- News18
Case filed against Shilpa Shetty, Raj Kundra for alleged Rs 60 crore fraud
Mumbai (Maharashtra) [India], August 14 (ANI): A case has been filed against Bollywood actor Shilpa Shetty, her husband Raj Kundra, and another person for allegedly cheating a businessman of over Rs 60 complaint, filed by businessman Deepak Kothari, director of Lotus Capital Financial Services Ltd, claims the incident took place between 2015 and 2023. Kothari alleged that the couple took the money under the pretext of expanding their business but used it for personal expenses to Kothari, in 2015, Shetty and Kundra approached him through a mediator seeking a Rs 75 crore loan for their company, Best Deal TV Pvt Ltd, which promoted lifestyle products and ran an online shopping platform. The proposed interest rate was 12 per they reportedly asked him to provide the funds as an 'investment" instead of a loan, assuring him of monthly returns and repayment of claimed he transferred Rs 31.95 crore in April 2015 under a share subscription agreement, and another Rs 28.53 crore in September 2015 under a supplementary agreement. The total amount was credited to Best Deal TV's bank attempts to recover the funds allegedly failed, and Kothari accused the couple of 'dishonestly using" the money for personal Economic Offences Wing (EOW) is currently conducting a detailed investigation into the financial transactions, agreements, and the alleged misappropriation of funds. (ANI)
