The Economic Offences Wing (EOW) is investigating a complaint filed by Deepak Kothari, a Mumbai businessman, accusing Shilpa Shetty and Raj Kundra of a Rs 60.48 crore fraud. The accusations are tied to a loan-cum-investment agreement linked to their now-closed online shopping platform, Best Deal TV Pvt Ltd. Kothari’s complaint states he met the couple in 2015 through Rajesh Arya, who suggested a loan of Rs 75 crore at a 12% interest rate, advising that the money be designated as an ‘investment’ for tax purposes. Kothari subsequently invested Rs 31.95 crore in April 2015, Rs 28.54 crore between July 2015 and March 2016, and Rs 3.19 lakh for stamp duty. Kothari claims that Shilpa Shetty personally assured him the money would be returned in April 2016, but she later resigned from her directorial position in September. A bankruptcy case of Rs 1.28 crore was registered against the company, of which Kothari claims he was not informed. The businessman asserts that the funds were used for personal expenses by Shetty and Kundra between 2015 and 2023. After numerous unsuccessful attempts to recover the investment, Kothari lodged a complaint of fraud and forgery with the Juhu police station, which was then handed over to the EOW. Shilpa Shetty and Raj Kundra’s legal representative has refuted the allegations, stating that they are baseless and of a civil nature, with the issue having been settled by the NCLT Mumbai on October 4, 2024. The lawyer emphasized that the agreement was for an equity investment.
