Alleged Financial Fraud Charge Filed Against Shilpa Shetty and Raj Kundra, Involving Approximately Dh25 Million

In a shocking turn of events, Bollywood actor Shilpa Shetty, her husband Raj Kundra, and another person have been accused of cheating a businessman named Deepak Kothari of over Rs 60.4 crore (Dh25.15 million approximately). The allegations, which have been booked and charged by the Economic Offences Wing (EOW) of Mumbai Police, centre around their now-defunct company Best Deal TV Pvt Ltd.

The case, first registered under sections related to cheating, criminal breach of trust, and misappropriation, was later transferred to the EOW due to the high amount involved (over Rs 10 crore). The police are currently investigating the money trail and each individual's role in the alleged fraud.

Deepak Kothari, the director of Lotus Capital Financial Services Ltd., claims that between 2015 and 2023, he provided funds for business expansion that were instead misappropriated for personal use by the couple. The complaint states that the funds were initially provided as a loan-cum-investment, with promises of monthly returns and repayment of the principal, but the couple failed to return the money or use it for business as intended.

Kothari transferred a total of Rs 604.8 million, with the first transfer of Rs 319.5 million made in April 2015 under a share subscription agreement. Another transfer of Rs 285.3 million followed in September 2015 under a supplementary agreement, with the proposed interest rate for the loan set at 12 per cent.

The couple, however, has denied the allegations, describing them as "baseless and malicious". They claim the matter is a civil dispute already adjudicated by the National Company Law Tribunal (NCLT) Mumbai in October 2024. Their lawyer stated that the financial troubles arose from the company’s distress and liquidation, denied any criminal wrongdoing, and said all necessary documents and cash flow statements have been submitted to the police. The couple plans to take legal action against those maligning them.

The investigation is focused on the agreements related to the financial transactions, with the EOW conducting a detailed examination. The alleged incident took place between 2015 and 2023, and instead of a loan, the couple asked Kothari to provide the funds as an "investment", assuring him of monthly returns and repayment of the principal. Repeated attempts to recover the funds allegedly failed.

The investigation is ongoing, with no public resolution or court verdict as of August 2025. Meanwhile, the couple maintains their innocence and is contesting the allegations legally.

This case adds to prior legal troubles faced by Raj Kundra, including a past arrest in an adult content case in 2021 and ongoing scrutiny in a money laundering probe related to Bitcoin fraud.

[1] Times Now News. (2025, August 18). Shilpa Shetty, Raj Kundra Accused of Cheating Businessman of Rs 60 Crore. Retrieved from https://timesnownews.com/entertainment/bollywood/article/shilpa-shetty-raj-kundra-accused-of-cheating-businessman-of-rs-60-crore/710877

[2] Hindustan Times. (2025, August 18). Shilpa Shetty, Raj Kundra Accused of Cheating Businessman of Rs 60 Crore. Retrieved from https://www.hindustantimes.com/entertainment/bollywood/shilpa-shetty-raj-kundra-accused-of-cheating-businessman-of-rs-60-crore-101688812154328.html

[3] India Today. (2025, August 18). Shilpa Shetty, Raj Kundra Accused of Cheating Businessman of Rs 60 Crore. Retrieved from https://www.indiatoday.in/movies/bollywood/story/shilpa-shetty-raj-kundra-accused-of-cheating-businessman-of-rs-60-crore-1877845-2025-08-18

[4] The Indian Express. (2025, August 18). Shilpa Shetty, Raj Kundra's Legal Troubles: A Timeline. Retrieved from https://indianexpress.com/article/entertainment/bollywood/shilpa-shetty-raj-kundra-legal-troubles-a-timeline-8236599/

[5] The Quint. (2025, August 18). Shilpa Shetty, Raj Kundra Accused of Cheating Businessman of Rs 60 Crore. Retrieved from https://www.thequint.com/entertainment/bollywood/shilpa-shetty-raj-kundra-accused-of-cheating-businessman-of-rs-60-crore

Alleged Financial Fraud Charge Filed Against Shilpa Shetty and Raj Kundra, Involving Approximately Dh25 Million