Accusation:
Bollywood actress shilpa shetty and her husband raj Kundra are accused of defrauding businessman Deepak Kothari in a loan-cum-investment deal worth ₹60 crore (approx. US$7.2 million, not $1.2 billion as incorrectly stated in some sources).
Case Filed:
Kothari filed a complaint at Juhu police station in August.
The Economic Offences Wing (EOW) of mumbai Police is now investigating the matter.
🔹 Kundra’s Defense: Blames Demonetization
Business Impacted:
Raj Kundra stated that his company, involved in electrical and household appliances, suffered major losses due to demonetization in 2016.
Loan Repayment Issue:
He claimed that due to the financial setback, the company was unable to repay borrowed funds, leading to the alleged fraud.
Statement to Police:
Kundra’s statement was recorded for the second time by the EOW.
He is expected to be summoned again in the coming weeks.
🔹 shilpa shetty Questioned
Long Interrogation:
Shilpa Shetty was questioned for nearly 4.5 hours by the Economic Offences Wing.
🔹 Foreign Travel Restrictions
Bombay high court Decision:
The court rejected the couple’s plea to travel abroad (including Los Angeles, USA).
Condition Imposed:
They must deposit ₹60 crore to be allowed to travel.
Lookout Circular (LOC):
The court also refused to stay the LOC issued against them, restricting their foreign travel.
🔹 Ongoing Investigation
The case remains under active investigation by mumbai Police’s Economic Offences Wing, with both raj Kundra and shilpa shetty under scrutiny.
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