Bollywood actor Shilpa Shetty and her husband, businessman Raj Kundra, charged with defrauding a Mumbai businessman of Rs 60 crore. The case is connected to loan-cum-investment deal for the famous couple’s now-defunct Best Deal TV Pvt Ltd. The celebrity couple has denied the allegations as “baseless and malicious”.
Businessman put allegations on Shilpa Shetty in 60 Crore Fraud case
Businessman Deepak Kothari has alleged that he had given them Rs 60 crore for business growth around 2015-2023; however, they spent it on personal expenses. Mr Kothari claimed he had come into contact with Shetty-Kundra through an agent, Rajesh Arya, in 2015. At that time, the couple had been the directors of Best Deal TV, a online buying platform; Ms Shetty held over 87% shares in the company then.
Mr Arya, he alleged, had sought a loan of Rs 75 crore, at 12% annual interest for the business, but to avoid higher taxes, he said that he will avail amount as an “investment”. A meeting was held, and the deal finalised with a promise that the money will return on time.
Mr Kothari Alleges ₹60.48 Crore Transfer Misused by Star Couple
Mr Kothari transferred the first instalment of around 31.95 crore in April 2015. But the tax problem persisted, and a 2nd deal signed in September. The businessman said that he transferred Rs 28.54 crore extra between July 2015 and March 2016.
Overall, he had transferred over Rs 60.48 crore for the deal, except paying Rs 3.19 lakh as stamp duty. Shilpa Shetty had also given him a personal guarantee in April 2016, claimed Mr Kothari. Soon after, an insolvency case of Rs 1.28 crore emerged against the agency, of which Mr Kothari became unaware.
In his criticism, Mr Kothari accused the star couple of making a well-planned conspiracy throughout 2015-2023, in which they took money for business purposes, but use it for their personal expenses.
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