Shilpa Shetty and Raj Kundra have found themselves at the centre of a major controversy after Mumbai Police issued a Lookout Circular (LoC) against the couple, following allegations of defrauding a businessman of approximately Rs. 60 crore. The case is linked to an investment arrangement involving their now-defunct company, Best Deal TV Pvt Ltd.
According to reports, the Economic Offences Wing (EOW) is currently examining the travel records of Shetty and Kundra, amid concerns they may attempt to leave the country during the ongoing investigation. The company’s auditor has also been summoned for questioning.
The complaint was filed by Deepak Kothari, a Mumbai-based businessman, who claims that between 2015 and 2023, the couple solicited funds under the guise of expanding their business. However, he alleges the money was diverted for personal use. Initially presented as a loan, the funds were later reclassified as an investment, purportedly for tax benefits.
The couple has denied all allegations, describing the case as “false, baseless and malicious,” and asserting that the transaction was a legitimate equity investment. The investigation remains ongoing.
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