Mumbai (Maharashtra) [India], August 14 : Couple Shilpa Shetty and Raj Kundra have once again found themselves embroiled in a controversy after allegations of Rs 60 crore fraud levelled against them by businessman Deepak Kothari, director of Lotus Capital Financial Services Ltd.
Speaking with ANI, Shilpa and Raj's lawyer Prashant Patil denied such allegations.
He said, "All allegations are false. register a five-wicket win,. We have not received a copy of the FIR so far. When we receive a copy, we would get to know the exact allegations. On that basis we will adopt the next legal remedy. But this transaction is quite old, 7-8 years old. If someone feels that they have been wronged, cheated, they would not wait 8-10 years to complain. There is documentary evidence for everything...If someone has any objection, they can approach EoW...We too will present our truth before investigating agencies. Truth will be out..."
Kothari alleged that the couple took the money under the pretext of expanding their business but used it for personal expenses instead.
According to Kothari, in 2015, Shetty and Kundra approached him through a mediator seeking a Rs 75 crore loan for their company, Best Deal TV Pvt Ltd, which promoted lifestyle products and ran an online shopping platform. The proposed interest rate was 12 per cent.
Later, they reportedly asked him to provide the funds as an "investment" instead of a loan, assuring him of monthly returns and repayment of principal.
Kothari claimed he transferred Rs 31.95 crore in April 2015 under a share subscription agreement, and another Rs 28.53 crore in September 2015 under a supplementary agreement. The total amount was credited to Best Deal TV's bank accounts.
Repeated attempts to recover the funds allegedly failed, and Kothari accused the couple of "dishonestly using" the money for personal benefit.
The Economic Offences Wing (EOW) is currently conducting a detailed investigation into the financial transactions, agreements, and the alleged misappropriation of funds.
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