EOW summons Raj Kundra's associate in ₹60cr fraud case
What's the story
The Economic Offences Wing (EOW) of the Mumbai Police has summoned Rajendra Bhutada, a resolution professional associated with Raj Kundra's businesses, for questioning in the ₹60 crore fraud case. The interrogation is scheduled for Thursday, September 25, and is part of a larger investigation into alleged fund misappropriation and dubious financial dealings. The case was initiated after Lotus Capital Financial Services director Deepak Kothari lodged an FIR against Kundra and his associates at Juhu Police Station.
Allegations
Kothari accuses Kundra and Shilpa Shetty of defrauding him
Kothari has accused Kundra and his wife, actor Shilpa Shetty, of defrauding him of ₹60.48 crore through their now-defunct company Best Deal TV Pvt Ltd. He alleges that between 2015 and 2023, he invested the amount under the pretext of expanding a business, but it was allegedly misused for personal expenses. The EOW is currently probing this case.
Investigation progress
Kundra revealed investments across 5 companies
As part of the investigation, the EOW has issued look-out circulars against the couple. In a recent five-hour interrogation, Kundra reportedly confessed to investing the ₹60 crore across five companies: Satyug Gold, Vihaan Industries, Essential Bulk Commodities Pvt Ltd, Best Deal, and Statement Media. However, investigators believe these funds were redirected to related parties or spent on unnecessary expenses.
New revelations
Fees paid to actors Bipasha Basu, Neha Dhupia?
During the interrogation, Kundra reportedly revealed that a portion of the disputed ₹60 crore was allegedly paid as fees to Bollywood actors Bipasha Basu and Neha Dhupia. Investigators are currently scrutinizing bank statements and tracking transfers made during demonetization, which have raised suspicions. The EOW also plans to examine content under the brand name "Best Deal," which is believed to be integral to the business operations being investigated.
Legal stance
Allegations denied by Kundra, Shetty's lawyer
Earlier, Shetty and Kundra's lawyer had denied the allegations, claiming they were civil in nature and had been settled by the National Company Law Tribunal (NCLT) Mumbai. Advocate Prashant Patil said, "This is an old transaction... 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."