Mumbai Police have issued a Lookout Circular (LOC) for actress Shilpa Shetty and her husband Raj Kundra in a Rs. 60 crore cheating case.
The Economic Offences Wing (EOW) took this step because the couple often travel abroad. The case filed at Juhu police station on August 14, was based on a complaint by businessman Deepak Kothari.
He claimed that Shilpa and Kundra cheated him through their closed company, Best Deal TV Pvt. Ltd. Between 2015 and 2023, they allegedly diverted business funds for personal use.
Kothari said Rajesh Arya introduced him to the couple, who owned 88% of the company. They first asked him for a Rs. 75 crore loan with 12% interest but later told him to treat it as an investment to avoid taxes, promising monthly returns and repayment.
Kothari invested Rs. 31.95 crore in April 2015 and Rs. 28.53 crore in September 2015. The money went to the company’s HDFC accounts.
Later, in 2016, Shilpa quit as company director, and by 2017, insolvency proceedings began after the company defaulted.
#ShilpaShetty & Raj Kundra under scanner
Mumbai Police issues Lookout Circular in ₹60 Cr cheating case.Case filed at Juhu PS on Aug 14
Allegation: duped businessman in loan-cum-investment deal
LOC issued as couple makes frequent international trips#Bollywood… pic.twitter.com/bzv3EuF4tQ— S•R•FWrites (@shaikshareef442) September 5, 2025
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