Shilpa Shetty and Raj Kundra face Look Out Circular as EOW probes Rs 60.48 crores investment fraud: Reports : Bollywood News
The businessman Raj Kundra, husband of actress Shilpa Shetty, was 50 years old on September 9, 2025. However, her marked birthday is a cloud while the wing of economic offenses (EOW) summoned him in relation to a case of RS 60.48 crore. According to reports, Kundra was initially ordered to appear before the investigators on September 10, but asked for an extension. He was now invited to appear on September 15.
Shilpa Shetty and Raj Kundra Facing Watch Circular because Eow Sondes RS 60.48 Investment fraud crores: reports
In the meantime, a circular of gaze (loc) has been published against Kundra and Shetty to prevent them from leaving India. According to a report by the Free Press Journal, a senior EOW official confirmed that a summons had also been published to the auditor of the National Companies’ Law Court (NCLT) as part of the investigation.
The complaint was filed by Deepak Kothari (60), Director of Lotus Capital Financial Services. He alleged that between 2015 and 2023, he invested RS 60.48 crore in Best Deal TV PVT. Ltd. – A company promoted by Kundra and Shetty – for the expansion of companies.
Kothari said that instead of being used for business, the funds had been siphoned and diverted for the personal use of the couple. He said that he had been presented to KURAND by mutual knowledge and that he had been assured of monthly returns as well as the reimbursement of the main investment.
At the time of investment, Shilpa Shetty and Raj Kundra owned 87.6% of the shares in Best Deal TV, an online shopping and retail platform. However, Shetty resigned from the company in 2016. Kothari later discovered that the insolvency procedure had been initiated against the company after another investor accused the promoters of fraud.
The EOW had previously summoned Shetty and Kundra three times during his preliminary investigation. The couple, citing their stay in London, sent their lawyer instead. Investigators found the information provided by the inadequate lawyer, which led to the registration of an official FIR.
The case was filed under articles 403 of the IPC (dishonorable the embezzlement of goods), 406 (criminal violation of confidence) and 34 (common intention).
While Kundra’s 50th anniversary marks a personal step, the celebrations are likely to take a rear seat while the businessman is preparing to face questions by the EOW. The probe should intensify in the coming days, the location ensuring that neither KURANDRA nor Shetty can leave the country until the investigation is progressing.
Also read: Shilpa Shetty and Team Reinvent Bastian: Bandra; He becomes “Ammakai” and Juhu welcomes the Bastian Beach Club
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