Deposit ₹60cr to suspend LOC: Bombay HC tells Shilpa-Raj
What's the story
The Bombay High Court has ordered Bollywood actor Shilpa Shetty and her husband, businessman Raj Kundra, to either deposit ₹60 crore or provide a bank guarantee from a nationalized bank of the same amount. This directive comes as they seek to suspend the Look Out Circular (LOC) issued against them in an alleged cheating case worth ₹60 crore. The LOC currently restricts their international travel.
Travel request
Couple seeks LOC suspension for urgent travel to London
The couple approached the court seeking an LOC suspension to visit Kundra's ailing father in London. Their petition stated that Kundra's father, 79, was diagnosed with a chronic iron-ammonia deficiency last month, leading to recurrent breathlessness and a deteriorating health condition. They requested permission to travel by January 20, 2026. Senior Advocate Aabad Ponda represented them and argued against depositing the full amount, suggesting surety or a reasonable alternative instead.
Court's stance
Court insists on full amount for LOC suspension
Despite Ponda's arguments, the bench insisted on the full amount being deposited or provided as a bank guarantee. Public Prosecutor Mankunwar Deshmukh pointed out that another bench had previously orally asked the couple to deposit ₹60 crore for their plea to travel abroad for work purposes. This directive in October came in response to the couple's foreign vacation request. The court has now posted a further hearing next week.
Case details
Shetty-Kundra's alleged involvement in ₹60cr cheating case
Earlier this year, the Economic Offences Wing (EOW) booked Shetty and Kundra for allegedly cheating a Mumbai-based businessman of ₹60.48 crore in a loan-cum-investment deal. The complainant, Deepak Kothari, accused them of defrauding him under the pretext of business expansion between 2015 and 2023. EOW is currently investigating the case.
Defense
Shetty-Kundra's lawyer denies allegations, calls them 'baseless'
Shetty and Kundra's lawyer Prashant Patil has denied the allegations, calling them "purely civil in nature" and adjudicated by the NCLT Mumbai. He said, "This is an old transaction... There is no criminality involved." Patil called the case "baseless and malicious," aimed at maligning Kundra and Shetty. He also said appropriate action is being initiated from their side against the perpetrators.