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Shilpa Shetty and her husband Raj Kundra booked for cheating of Rs 60 crore: Case explained
A cheating case has been filed against actress Shilpa Shetty and her husband, Raj Kundra. Know all the details about the case where the couple allegedly cheated a Juhu businessman of Rs 60.48 crore.
Actress Shilpa Shetty and her husband, Raj Kundra, have been at the center of several controversies over the years. The couple is now grabbing headlines for a cheating case filed against them. A Mumbai-based businessman recently filed a police complaint alleging that they cheated him of over Rs 60 crore. Here's what the case is all about.
Shilpa Shetty and Raj Kundra booked for a cheating case
On Wednesday, the Economic Offences Wing (EOW) of Mumbai Police registered a case against Shilpa Shetty and her husband Raj Kundra for allegedly cheating a Juhu businessman of over Rs 60 crore.
The FIR was registered against Shilpa and Raj Kundra in Juhu police station under Section 403 (dishonest and misappropriation of property), Section 406 (criminal breach of trust) and Section 34 (common intention), Indian Express reported.
Here's what the case is all about
In his compliant, Deepak Kothari, who is the director of Lotus Capital Financial Services, has alleged that he was cheated of Rs 60.48 crore in a loan-cum-investment deal with the couple.
Shilpa Shetty and Raj Kundra reportedly wanted to take a business loan for their company, Best Deal TV Pvt Ltd, a now-dissolved home shopping and online retail platform in 2015. Shetty held a majority stake (87.61 per cent of the shares) in the company. The couple initially sought a Rs 75 crore loan with a 12 percent interest rate for business expansion.
Businessman transferred Rs 60.48 crore to the couple
In the FIR, Kothari alleged that he was persuaded to route the funds as an "investment" to avoid higher taxes. He initially transferred Rs 31.95 crore in April 2015 and Rs 28.53 crore in September 2015, for a total of ₹60.48 crore. The amount was allegedly credited to Best Deal TV’s HDFC bank accounts. The couple also paid a stamp duty of Rs 3.19 lakh.
After giving a personal guarantee, the 50-year-old actress resigned as a director of the company in September 2016.
Kothari later discovered insolvency proceedings had been initiated against Best Deal TV in 2017 for defaulting on another agreement. The businessman further alleged that the couple used the funds for personal benefit and he made repeated attempts to recover the money.
Shilpa Shetty and Raj Kundra's lawyer react to the case
Meanwhile, Shilpa Shetty and Raj Kundra's lawyer Prashant Patil has issued a statement denying all the allegations. "This is nothing but a baseless and malicious case aimed at maligning our clients, and appropriate action is being initiated from our side against the perpetrators," he said in a statement.
"There is no criminality involved and our auditors have submitted all the necessary supporting documents from time to time, as requested by the EOW, including detailed cash flow statements," his statement further read.
Stay tuned to Pinkvilla for more updates.
