Raj Kundra Summoned In Rs 60.48 Crore Scam; LOC Issued Against Him & Shilpa Shetty – Shocking Twist Unfolds

Bollywood actor Shilpa Shetty's husband, Raj Kundra, is embroiled in a ₹60.48 crore cheating case. The Economic Offences Wing (EOW) has summoned him for questioning. Initially scheduled for September 10, Kundra requested a delay and will now appear on September 15. To prevent them from leaving India, authorities have issued a Look Out Circular (LOC) against both Kundra and Shetty.

Auditor and Legal Proceedings

The EOW has also summoned the auditor of the National Company Law Tribunal (NCLT) for questioning. Previously, Shetty and Kundra were called three times during the preliminary inquiry but cited their stay in London as a reason for not appearing. Instead, they sent their attorney, whose information was deemed insufficient by the EOW, leading to the registration of a formal FIR.

The FIR was lodged at Juhu Police Station following a complaint by Deepak Kothari, Director of Lotus Capital Financial Services. Kothari claimed he invested ₹60.48 crore in Best Deal TV Pvt. Ltd., promoted by Shetty and Kundra, between 2015 and 2023 for business expansion. He alleged that these funds were misused for personal purposes.

Investment Promises and Shareholding

Kothari was introduced to Raj Kundra through a mutual contact. At that time, Shetty and Kundra jointly owned 87.6% of Best Deal TV, an online shopping platform. They allegedly assured Kothari of monthly returns along with repayment of his principal investment. Shilpa Shetty resigned from the company in 2016.

Kothari later found out that insolvency proceedings had been initiated against Best Deal TV after another investor accused them of fraud. Following an extensive preliminary investigation, the EOW filed charges against Shilpa Shetty, Raj Kundra, and another person under IPC Sections 403 (dishonest misappropriation of property), 406 (criminal breach of trust), and 34 (common intention).