₹60cr cheating case: Raj Kundra to appear before EOW today
What's the story
Raj Kundra, businessman and husband of actor Shilpa Shetty, is expected to appear before the Economic Offences Wing (EOW) in Mumbai on Monday. The summons comes after a complaint by businessman Deepak Kothari, who alleges he was cheated out of over ₹60cr in a loan-cum-investment deal with Best Deal TV Pvt Ltd, a company owned by the couple. The EOW has also issued lookout notices for both Kundra and Shetty after examining their travel records.
Allegations
What are the allegations against Kundra, Shetty?
Kothari alleges that he invested money between 2015 and 2023 in Best Deal TV Pvt Ltd to help expand the business, but the funds were used for personal expenses instead. The EOW is currently investigating these charges. In August, the agency registered a case against Kundra, Shetty, and another person based on Kothari's complaint.
Denial
Shetty, Kundra have denied all allegations
Shetty and Kundra have denied the allegations made by Kothari. Their lawyer Prashant Patil has called the accusations "baseless and malicious," insisting that the case is civil in nature and has 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 NCLT," Patil said.
Legal proceedings
Investment agreement was purely an equity investment: Patil
Patil added, "There is no criminality involved and our auditors have submitted all the necessary supporting documents from time to time as requested by EOW including detailed cash flow statements." He further stated that the investment agreement in question was purely an equity investment. "The concerned chartered accountants have visited the police station for more than 15 times with all the evidence supporting my clients," he said.