Raj Kundra grilled in ₹60cr fraud case for 5 hours
What's the story
Raj Kundra, businessman and husband of Bollywood actor Shilpa Shetty, was questioned by the Economic Offences Wing (EOW) of the Mumbai Police on Monday, September 15. The questioning lasted for five hours and focused on his bank statements and other expenses related to a ₹60 crore fraud case. Kundra reportedly confirmed that around ₹60 crore was invested in five companies, namely Satyug Gold, Vihaan Industries, Essential Bulk Commodities Pvt Ltd, Best Deal, and Statement Media.
Investigation details
Kundra asked about various questionable expenses
During the interrogation, Kundra was also asked about a ₹3.15 crore expense on a warehouse, ₹20 crore on broadcasts, and payments for a rented office in Matunga. The EOW inquired about a ₹4 crore payment made as "salary" to a celebrity, too. The agency noticed that Kundra had made a payment to Ektaa Kapoor's Balaji Telefilms and asked him to provide details about it.
Case background
What is the case all about?
The case dates back to August when Kundra-Shetty were booked by the EOW for allegedly cheating a Mumbai-based businessman, Deepak Kothari, of ₹60.48cr in a loan-cum-investment deal. Kothari alleged that the couple defrauded him using their now-defunct company, Best Deal TV Pvt Ltd. He claimed to have invested the amount between 2015 and 2023 under the pretext of expanding a business, but alleged it was misused for personal expenses. Kundra can be summoned again, as early as next week.
Legal stance
Allegations purely civil in nature, said Shetty-Kundra's lawyer
Shetty and Kundra's lawyer, Prashant Patil, previously denied the allegations. He said they were purely civil in nature and had already been dealt with by the National Company Law Tribunal (NCLT). "This is an old transaction wherein the company went into financial distress and eventually got entangled in a long legal battle at the NCLT," Patil said. He added that their auditors have submitted all necessary supporting documents to EOW as requested, including detailed cash flow statements.
Lawyer's statement
Patil described case as 'malicious'
Patil described the case as "baseless and malicious," aimed at maligning Kundra and Shetty. He said appropriate action is being initiated against the perpetrators from their side. The couple has been embroiled in legal troubles since 2021, when Kundra was arrested for allegedly producing pornographic films. He was later released on bail but continues to face several legal challenges.