Raj Kundra, the husband of Shilpa Shetty, is reportedly facing renewed legal difficulties. The Economic Offences Wing (EOW) has summoned him in connection with a 60-crore rupee investment fraud. Initially, he was instructed to appear on September 10th. Following a request, the hearing was postponed to September 15th.
A Look Out Circular (LOC) has been issued to prevent Shilpa Shetty and Raj Kundra from leaving the country. The police are also investigating the matter by summoning the auditor of the National Company Law Tribunal (NCLT). The FIR was filed at the Juhu police station by Deepak Kothari, the director of Lotus Capital Financial Services.
The accusations involve Kothari’s investment of 60.48 crore rupees between 2015 and 2023 in Best Deal TV Pvt. Ltd., a company promoted by Shetty and Kundra, for business expansion. The allegations suggest that the couple misused the funds for their personal purposes. The Economic Offences Wing is actively investigating the claims. The complainant contends that what started as a loan was later presented as an investment to circumvent tax regulations.
Deepak claims he was assured in a meeting that the investment would be returned with 12% annual interest within a set period. In 2016, Shilpa provided a written guarantee. However, she later resigned from her director position in the company. An insolvency case of 1.28 crore rupees was later discovered to be pending against the company.