Raj Kundra denies 'baseless' allegations in ₹60cr cheating case
What's the story
Raj Kundra, the husband of Bollywood actor Shilpa Shetty, has strongly denied the allegations against him and his wife in a ₹60cr fraud case. In a tweet on Wednesday, the businessman called the claims "baseless and motivated" and said that a quashing petition is pending before the High Court. He added that he has fully cooperated with the investigation and trusts the Indian judiciary.
Statement details
'Issues sought to be raised are being given criminal color'
Kundra took to X (formerly Twitter) to issue a statement, saying, "We categorically deny the baseless and motivated allegations being circulated. The issues sought to be raised are being given a criminal color without any lawful basis." He added, "Having fully cooperated with the investigation, we are sanguine that justice will prevail and have complete faith in the law enforcement authorities and the Indian judiciary."
Media request
He urged the media to 'exercise restraint'
Kundra further requested the media to "exercise restraint" as the matter is sub judice. His statement came after a report said that Mumbai Police had registered an FIR against him and Shetty, and added Section 420 of the Indian Penal Code (IPC) to the case. The couple is being probed by the Economic Offences Wing (EOW) in a ₹60.48cr fraud and cheating case filed by businessman Deepak Kothari, director of Lotus Capital Financial Services.
Allegations
Couple accused of misusing funds for personal purposes
Kundra and Shetty are accused of taking money from Kothari on the pretext of business expansion, but allegedly using it for personal expenses. The couple has denied these allegations as the EOW continues to investigate the money trail. A Lookout Circular (LOC) was also issued against them to prevent international travel. When they approached the Bombay High Court seeking LOC suspension recently, the court asked them to deposit ₹60cr or provide a bank guarantee.