Shilpa Shetty Raj Kundra cheating case reports have been strongly denied by the couple, who insist the ₹60.4 crore allegations are baseless and purely civil.
Bollywood actress Shilpa Shetty and businessman Raj Kundra have issued a strong rebuttal to recent media reports claiming that the Economic Offences Wing (EOW) of Mumbai Police booked them in a high-value cheating and forgery case. Through their legal representative, the couple has called the accusations “baseless, malicious, and purely civil in nature.”
Legal Team Issues Official Statement
Advocate Prashant Patil, representing the celebrity couple, released a detailed statement clarifying their stance.
“My clients have been informed by certain segments of electronic and print media that there is an alleged case registered against them at the Economic Offences Wing, Mumbai. At the outset, my clients deny all the allegations, which are purely civil in nature and have already been adjudicated by the NCLT Mumbai on 04/10/2024,” Patil stated.
According to the lawyer, the matter pertains to an old business transaction linked to a company that faced financial distress. This eventually led to a prolonged legal battle before the National Company Law Tribunal (NCLT).
“No Criminality Involved” — Defence Team
Advocate Patil stressed that there is no element of criminal wrongdoing in the case.
He explained that:
- The transaction in question was an equity investment rather than a loan.
- The company involved had already received a liquidation order, which was shared with the police.
- All audited financial statements, cash flow records, and other evidence had been provided to the EOW on multiple occasions.
“Our auditors have submitted all the necessary supporting documents from time to time, as requested by the EOW, including detailed cash flow statements. The concerned chartered accountants have visited the police station more than 15 times in the last one year with complete evidence supporting my clients,” Patil noted.
Allegations by the Complainant
The FIR in question was initially registered at Juhu police station under various sections of the Indian Penal Code (IPC) pertaining to cheating and forgery. Due to the large monetary value involved — reportedly over ₹10 crore — the case was later transferred to the Economic Offences Wing.
The complaint was filed by Deepak Kothari, a 60-year-old Juhu resident and director of Lotus Capital Financial Services, a non-banking financial company (NBFC).
Kothari alleges that:
- He was introduced to Raj Kundra and Shilpa Shetty by a man named Rajesh Arya.
- At the time, the couple were primary stakeholders in Best Deal TV Pvt Ltd, an e-commerce and home-shopping platform
- Raj Kundra and Shilpa Shetty reportedly held 87.6% of the company’s shares.
- The couple allegedly defrauded him of ₹60.4 crore through a loan-cum-investment arrangement.
Background of Best Deal TV Pvt Ltd
Best Deal TV Pvt Ltd was a celebrity-driven e-commerce and home-shopping channel launched with much fanfare, offering a range of lifestyle products endorsed by well-known personalities.
However, the venture eventually ran into financial trouble and was shut down. The company’s downfall led to multiple legal disputes, one of which is now at the center of the current controversy.
Couple Plans Legal Action Against “Perpetrators”
The statement from the defence team suggests that Shilpa Shetty and Raj Kundra view the complaint as an attempt to tarnish their reputation.
“This is nothing but a baseless and malicious case aimed at maligning our clients, and appropriate action is being initiated from our side against the perpetrators,” the lawyer declared.
It remains unclear what specific legal steps the couple will take, but sources indicate that they are considering defamation proceedings.
Ongoing Investigation
While the EOW has not yet issued a formal public statement on the latest developments, the FIR remains active, and investigators are expected to continue examining the evidence.
Given the high-profile nature of the accused and the significant monetary amount involved, the case has generated intense public and media interest.
Conclusion
Shilpa Shetty and Raj Kundra’s latest controversy adds to the series of legal and business challenges the couple has faced over the years. Their strong denial, supported by claims of full cooperation with authorities, paints the matter as a civil business dispute rather than a criminal case.
Whether the allegations will hold up in court or be dismissed remains to be seen. For now, the couple is standing firm, calling the charges an unfounded attack on their integrity.
