Mumbai: A lookout circular has been issued against Bollywood actor Shilpa Shetty and her businessman husband Raj Kundra in connection with a multi-crore fraud case.
The celebrity couple is accused of defrauding businessman Deepak Kothari, director of Lotus Capital Financial Services, of about Rs 60 crore in a loan-cum-investment deal for their now-defunct Best Deal TV Pvt Ltd. The case was registered against them at Juhu police station on August 14.
According to reports, the LOC was issued by the Economic Offences Wing of Mumbai Police as the couple makes frequent international trips. While police are currently examining their travel records, and the firm’s auditor has also been summoned for questioning.
Kothari had alleged that the couple took Rs 60 crore from him under the pretext of expanding their business between 2015 and 2023, but spent it on personal expenses. While the money was initially taken as a loan, it was later showed as an investment, citing tax savings. Shilpa had given a personal guarantee in writing in April 2016, assuring him that the money would be returned within a certain time with 12% annual interest. She, however, resigned as director of the firm within the next few months.
The businessman further claimed he was also not informed about an insolvency case of Rs 1.28 crore against the company.
