Mumbai, Dec 17 Bollywood actress Shilpa Shetty Kundra has categorically denied “the baseless and motivated allegations” about the Economic Offences Wing (EOW) of the Mumbai Police invoking Section 420 (cheating) of the Indian Penal Code against her and her husband, Raj Kundra.
On Wednesday, the actress took to the Stories section of her Instagram, and shared a long note quashing the allegations.
She wrote, “We categorically deny the baseless.and motivated allegations being circulated. The issues sought to be raised are being given a criminal colour without any lawful basis. A Quashing Petition has already been filed before the High Court and is pending adjudication. Having fully cooperated with the investigation, we are sanguine that justice will prevail and have complete faith in the law enforcement authorities and the judicial system of our country. We respectfully urge the media to exercise restraint as the matter is subjudice”.
The INR 60 crore fraud and cheating case involving Shilpa Shetty Kundra and her husband Raj Kundra was registered by the Mumbai Police Economic Offences Wing following a complaint by Mumbai-based businessman Deepak Kothari. The complainant alleged that between 2015 and 2023, he invested approximately INR 60 crore in Best Deal TV Pvt. Ltd., a company linked to the couple, based on assurances of returns and repayment.
As per the FIR, the funds were allegedly diverted and not returned despite repeated demands, leading to charges. The couple has earlier denied criminal intent in press statements, and stated that the dispute is civil in nature, linked to a business failure and insolvency proceedings of the company. During related proceedings, the Bombay High Court issued directions concerning travel restrictions. The investigation is ongoing, and no conviction has been recorded.
Earlier, media reports stated that with the addition of Section 420 of IPC, which is a scheduled offence under the Prevention of Money Laundering Act (PMLA), 2002, the complainant has instructed his legal team to initiate appropriate proceedings before the Enforcement Directorate (ED).
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