Bollywood actress Shilpa Shetty Kundra has firmly rejected “the baseless and motivated allegations” regarding the Economic Offences Wing (EOW) of the Mumbai Police invoking Section 420 (cheating) of the Indian Penal Code against her and her husband, Raj Kundra.
Shilpa’s Response on Social Media
On Instagram, the actress posted a detailed note addressing the allegations. She stated, “We categorically deny the baseless and motivated allegations being circulated. The issues sought to be raised are being given a criminal colour without any lawful basis. A Quashing Petition has already been filed before the High Court and is pending adjudication. Having fully cooperated with the investigation, we are sanguine that justice will prevail and have complete faith in the law enforcement authorities and the judicial system of our country. We respectfully urge the media to exercise restraint as the matter is subjudice.”
Details of the Case
The INR 60 crore fraud and cheating case against Shilpa Shetty Kundra and Raj Kundra was registered by the Mumbai Police Economic Offences Wing following a complaint from businessman Deepak Kothari. Kothari alleges that from 2015 to 2023, he invested around INR 60 crore in Best Deal TV Pvt. Ltd., a company associated with the couple, based on promises of returns and repayment.
According to the FIR, the funds were reportedly diverted and not returned, despite multiple requests, which led to the charges. The couple has previously asserted that there was no criminal intent and that the dispute is civil in nature, linked to business failure and insolvency proceedings of the company. During related proceedings, the Bombay High Court issued travel restrictions, while the investigation is still ongoing, with no convictions recorded.
Earlier media reports indicated that with the addition of Section 420 of the IPC, which falls under the Prevention of Money Laundering Act (PMLA), 2002, the complainant has instructed his legal team to initiate pertinent proceedings before the Enforcement Directorate (ED).