As part of the larger investigation, the statements of five individuals, including Raj Kundra, have been recorded so far. Businessman Deepak Kothari filed the fraud charge, claiming that funds intended for company expansion were improperly spent for personal needs between 2015 and 2023.
Mumbai Police’s Economic Offences Wing (EOW) interrogated Bollywood actress Shilpa Shetty for almost four and a half hours at her home in relation to a suspected Rs 60 crore fraud case. The focus of the investigation, which is connected to her husband Raj Kundra, is their immediately-defunct company, Best offer TV Pvt. Ltd. According to reports, the EOW was given documents from her advertising firm during the interrogation; these are currently being checked.
Statements recorded from 5 persons so far
As part of the larger investigation, the statements of five individuals, including Raj Kundra, have been recorded so far. Businessman Deepak Kothari filed the fraud charge, claiming that funds intended for company expansion were improperly spent for personal needs between 2015 and 2023.
The duo claimed to be the directors of Best offer TV Pvt Ltd, a immediately-defunct online retail and home buying platform, according to the FIR. According to reports, Shilpa owned 87.61 percent of the company’s shares at the time. The complainant reportedly consented to both parties’ requests for a loan of Rs 75 crore at 12% interest.
But according to the FIR, the couple convinced him to use the money as an “investment” in order to avoid paying more taxes, promising him monthly returns and principal repayment. According to Kothari, he made two transfers in 2015: Rs 28.53 crore under a supplemental agreement in September and Rs 31.95 crore in April via a share subscription arrangement.
Raj-Shilpa’s legal team denied…
The legal team for the couple has denied any wrongdoing. They contend that the investment was lawful and not fraudulent, and that the issue was previously settled by the National Company Law Tribunal (NCLT) in 2024.
Look out circular issued against the couple
A Look Out Circular (LOC) has been issued to keep Shilpa and Raj from leaving the country after the Bombay High Court rejected their request to travel overseas while the investigation was underway. As investigators continue to examine bank transactions and financial data, further inquiries are anticipated. As of yet, neither Shilpa nor her team have issued a statement.
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