The Economic Offences Wing (EOW) of Mumbai Police has summoned businessman Raj Kundra, husband of actress Shilpa Shetty, for questioning in a Rs 60 crore cheating case, which was filed against him on August 13. He is scheduled to appear before investigators next Monday, that is September 15.
The EOW had called businessman Raj Kundra for questioning on Wednesday, but he informed officials through his representative that he would appear on Monday instead.
The EOW had earlier issued Look-Out Circulars (LOCs) against Kundra and his wife, actress Shilpa Shetty, to ensure they remain in India for the investigation. The couple is known for frequent overseas travel.
Complaint filed by Mumbai businessman
The case is based on a complaint filed by 60-year-old businessman Deepak Kothari, director of Lotus Capital Financial Services. He claimed that between 2015 and 2023, Shetty and Kundra diverted the funds he had provided for expanding their business and used them for personal purposes.
According to the FIR filed at Juhu police station on August 13, Kothari was introduced to Kundra by a mutual contact. He was told the couple owned nearly 88% shares in Best Deal TV, a home-shopping and online retail platform. Kundra initially asked for a loan of ₹75 crore at 12% interest, but later convinced Kothari to treat it as an investment, promising higher returns and fewer tax complications.
Alleged diversion of funds
Kothari said he transferred the money in instalments from 2015 onward but later discovered that insolvency proceedings were already underway against the company in another cheating case. Shilpa Shetty resigned as director in 2016. Kothari alleged Kundra repeatedly delayed repayment, often blaming the Covid-19 pandemic.
Following a preliminary inquiry, the EOW found evidence that Kothari’s funds were misused. As a result, Kundra, Shetty, and another unidentified person were booked under IPC sections for dishonest misappropriation of property, criminal breach of trust, and common intention.