Mumbai, Sept 5, 2025 — The Mumbai Police’s Economic Offences Wing (EOW) has issued a Look Out Circular (LoC) against Bollywood actor “Shilpa Shetty” and her businessman husband “Raj Kundra” in connection with an alleged ₹60 crore cheating case.
The action follows a complaint filed by businessman Deepak Kothari, who claims the couple defrauded him through their now-defunct company, Best Deal TV Pvt Ltd.
According to the FIR, Kothari invested the money between 2015 and 2023 under the pretext of business expansion, but the funds were allegedly diverted for personal use.
What is a Look Out Circular?
An LoC is an alert issued to immigration authorities to prevent individuals under investigation from leaving the country. Officials say the measure was necessary due to the couple’s frequent international travel.
Allegations in the Complaint
Kothari alleges that:
- He was persuaded to invest ₹31.9 crore in April 2015 and ₹28.53 crore in September 2015 under share subscription agreements.
- The couple promised monthly returns and repayment of the principal.
- In April 2016, a personal guarantee was offered, but Shetty resigned as director later that year.
- The company entered bankruptcy proceedings in 2017 after defaulting on agreements.
Defence from the Couple’s Lawyer
Advocate Prashant Patil, representing Shetty and Kundra, has denied any criminal wrongdoing, calling it an “old transaction” already adjudicated by the NCLT. He stated that all required documents, including cash flow statements, had been submitted to the EOW.
Why This Case Matters
The case has reignited public interest in the couple’s past controversies, including Kundra’s 2021 arrest in a pornography-related investigation. It also raises questions about investor protection and due diligence in celebrity-led ventures.
The LoC ensures that “Shilpa Shetty” and “Raj Kundra” remain within India’s jurisdiction. Whether the allegations hold up in court or are resolved as a civil dispute will be closely watched by both the entertainment industry and the business community.
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