Raj Kundra, the husband of actress and businessman Shilpa Shetty, has been called in by Mumbai’s Economic Offenses Wing (EOW) to testify in a fraud case worth Rs 60 crore. The case was filed on August 13 and is currently being investigated quickly. When Raj Kundra was summoned on Wednesday, he told the authorities through his agent that he would only be seen by the investigating officers on Monday, September 15.
The full story of the complainant and the allegations
Deepak Kothari, a 60-year-old businessman, filed the complaint that led to the case’s registration. Kothari, the director of Lotus Capital Financial Services, claims that Raj Kundra and Shilpa Shetty misappropriated his invested funds from 2015 until 2023. Kothari claims that after initially being asked for a loan of Rs 75 crore, he was convinced to turn it into an investment in order to lower tax-related issues and increase returns.
Best Deal TV and the truth of investment
Kothari was informed that Raj Kundra and Shilpa Shetty own roughly 88% of Best Deal TV. He progressively transferred the funds based on this trust. However, it was then discovered that fraud cases had already been filed against the company and that it was already in the bankruptcy process. In addition, Shilpa Shetty left her position as a director of this corporation in 2016.
Excuses of COVID-19 and deferred payment
Raj Kundra allegedly kept coming up with new justifications every time Deepak Kothari demanded the return of his money. The COVID-19 epidemic was occasionally stated as the cause, and other times the state of the business was. Kothari eventually filed a police complaint after becoming frustrated with the ongoing delays and broken promises.
Irregularities revealed in the investigation
Following the filing of the FIR at the Juhu police station, the EOW carried out an initial inquiry and discovered that Kothari’s funds were being utilized for personal expenses rather than corporate growth. Based on this, a complaint has been filed against Raj Kundra, Shilpa Shetty, and an unidentified individual under a number of IPC sections, including criminal breach of trust, collective conspiracy, and property misappropriation. In addition, both of them have been subject to a watch notice, which prevents them from leaving the nation.
Disclaimer: The information given in this article is based on media reports and available public sources. It is not intended to harm the image of any person or institution.
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