Actor Shilpa Shetty Kundra, her businessman husband Raj Kundra, and one other unidentified particular person have been booked by the Financial Offences Wing (EOW) of the Mumbai Police for allegedly dishonest a city-based businessman of Rs 60.48 crores in a loan-cum-investment association tied to their now-defunct firm, Finest Deal TV Pvt Ltd, in line with a report by Free Press Journal.
Shilpa Shetty, Raj Kundra accused of dishonest businessman in Rs 60.48 crores loan-cum-investment deal: Stories
The FIR, initially registered at Juhu police station below numerous sections of the IPC for dishonest and forgery, was later transferred to the EOW because the monetary sum concerned exceeded Rs 10 crores. The grievance was lodged by Deepak Kothari (60), a Juhu resident and director of Lotus Capital Monetary Companies, a non-banking monetary firm, by way of his advocates Dr Yusuf Iqbal and Zain Shroff, reported Free Press Journal, citing Occasions of India.
Allegations In opposition to Shetty and Kundra
As per the FIR, Kothari was launched to the Kundras by Rajesh Arya. On the time, Shilpa Shetty and Raj Kundra reportedly held 87.6% shares in Finest Deal TV, a web-based retail and residential purchasing platform.
The accused allegedly sought a Rs 75 crores mortgage at 12% annual curiosity, however later suggested Kothari to route it as an funding to keep away from larger taxation. They allegedly promised fastened month-to-month returns together with the reimbursement of the principal quantity.
Kothari claims he transferred Rs 31.95 crores in April 2015 below a share subscription settlement, adopted by Rs 28.53 crores in September 2015 below a supplementary settlement. In April 2016, a private assure was reportedly offered. Nonetheless, Shilpa Shetty resigned as firm director in September 2016.
Discovery of Insolvency Proceedings
In response to the grievance, in 2017, Kothari found insolvency proceedings towards Finest Deal TV for defaulting on one other settlement. Regardless of repeated follow-ups — together with throughout the COVID-19 pandemic — he alleges that the cash was by no means returned. Kothari has claimed that the transactions had been misrepresented and that his funds had been diverted, inflicting main monetary losses.
Authorized Response from the Kundras
Reacting to the allegations, Prashant Patil, authorized counsel for Shetty and Kundra, strongly denied the claims. He acknowledged, as quoted by Occasions of India, “My shoppers deny all of the allegations, that are purely civil in nature and have been adjudicated by the NCLT Mumbai on 04/10/2024. There isn’t a criminality concerned.”
Patil additional added that the Kundras’ auditors have already offered the EOW with detailed money circulate statements and all requested paperwork, emphasising that the matter has been legally settled within the applicable discussion board.
The EOW is now analyzing monetary transactions, agreements, and alleged diversion of funds linked to the case. Additional developments are awaited because the investigation continues.
Additionally Learn: Shilpa Shetty drops gorgeous pics with sister Shamita Shetty as they have a good time Raksha Bandhan; watch
BOLLYWOOD NEWS – LIVE UPDATES
Catch us for up to date Bollywood Information, New Bollywood Motion pictures replace, Field workplace assortment, New Motion pictures Launch , Bollywood Information Hindi, Leisure Information, Bollywood Dwell Information In the present day & Upcoming Motion pictures 2025 and keep up to date with newest hindi motion pictures solely on Bollywood Hungama.