Daijiworld Media Network- Mumbai
Mumbai, Aug 14: Bollywood actress Shilpa Shetty and her husband, businessman Raj Kundra, have landed in legal trouble after being accused of duping a Mumbai-based businessman to the tune of Rs 60.48 crore. The charges stem from a loan-cum-investment deal linked to their now-defunct company, Best Deal TV Pvt Ltd.
According to the complaint lodged by businessman Deepak Kothari, the alleged cheating took place between 2015 and 2023. Kothari claimed he was introduced to the celebrity couple through agent Rajesh Arya in 2015, when both Shetty and Kundra were directors of Best Deal TV — an online shopping platform where Shetty reportedly held over 87% shares.
Arya allegedly sought a Rs 75 crore loan for the company at 12% annual interest, but advised routing the funds as an “investment” to avoid higher taxes. Following meetings and negotiations, Kothari agreed, with assurances that the amount would be repaid on time.
In April 2015, Kothari transferred the first instalment of Rs 31.95 crore. Persistent tax concerns led to a second deal in September 2015, under which he paid an additional Rs 28.54 crore between July 2015 and March 2016. In total, he claimed to have invested over Rs 60.48 crore, apart from paying Rs 3.19 lakh as stamp duty. Shetty also allegedly provided a personal guarantee in April 2016.
However, just months later, in September 2016, Shetty resigned as director. Kothari alleged that he subsequently discovered an insolvency case of Rs 1.28 crore against the company — a fact he says was concealed from him. Despite repeated demands, the businessman claims his money was never returned.
The complainant has accused the couple of executing a “well-planned conspiracy” by diverting funds meant for business expansion towards personal expenses.
Initially registered at Juhu Police Station under charges of forgery and cheating, the case has since been transferred to the Economic Offences Wing (EOW) as the amount involved exceeds Rs 10 crore. The EOW is presently investigating the matter.