Raj Kundra summoned by Mumbai EOW in ₹60 cr fraud case
The Economic Offences Wing (EOW) of Mumbai Police has reportedly summoned businessman Raj Kundra, husband of actor Shilpa Shetty, for questioning in connection with a ₹60-crore cheating case. Kundra is expected to appear before investigators on September 15, as per reports.Kundra had been asked to join the probe earlier this week but, through his representative, sought more time and assured his presence next Monday, police said.The EOW had earlier issued Look-Out Circulars (LOCs) against Kundra and Shetty, given their frequent foreign travel, to ensure they remain in India while the inquiry is underway.The case stems from a complaint lodged by 60-year-old Deepak Kothari, director of Lotus Capital Financial Services. Kothari has alleged that between 2015 and 2023, funds he invested for business expansion were instead siphoned off by the couple for personal use.According to the FIR registered at Juhu police station on August 13, Kothari was introduced to Kundra by a mutual acquaintance and was informed that Kundra and Shetty together held nearly 88% of shares in Best Deal TV, a home-shopping and e-commerce company. Initially, Kundra sought a loan of ₹75 crore at 12% interest, but later persuaded Kothari to treat it as equity investment, promising better returns and fewer tax liabilities.
The Economic Offences Wing (EOW) of Mumbai Police has reportedly summoned businessman Raj Kundra, husband of actor Shilpa Shetty, for questioning in connection with a ₹60-crore cheating case. Kundra is expected to appear before investigators on September 15, as per reports.
Kundra had been asked to join the probe earlier this week but, through his representative, sought more time and assured his presence next Monday, police said.
The EOW had earlier issued Look-Out Circulars (LOCs) against Kundra and Shetty, given their frequent foreign travel, to ensure they remain in India while the inquiry is underway.
The case stems from a complaint lodged by 60-year-old Deepak Kothari, director of Lotus Capital Financial Services. Kothari has alleged that between 2015 and 2023, funds he invested for business expansion were instead siphoned off by the couple for personal use.
According to the FIR registered at Juhu police station on August 13, Kothari was introduced to Kundra by a mutual acquaintance and was informed that Kundra and Shetty together held nearly 88% of shares in Best Deal TV, a home-shopping and e-commerce company. Initially, Kundra sought a loan of ₹75 crore at 12% interest, but later persuaded Kothari to treat it as equity investment, promising better returns and fewer tax liabilities.
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