Shilpa Shetty–Raj Kundra Face Cheating Charges in ₹60 Crore Fraud Case; Media-Regular Couple Denies the Allegations

Key Points:

A recent development in the ₹60 crore investment scam involving Bollywood actor Shilpa Shetty and her businessman husband Raj Kundra has caused more trouble for the couple. On 17 December 2025, some reports in the media claimed that the couple had been booked under more charges  in the Rs 60 crore fraud case. 

The case emerged back in August 2025, when a businessman named Deepak Kothari accused the couple of duping him by diverting money meant for investment to their personal use. The media-regular couple have reacted to the allegations on their respective social media handles. 

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Mumbai Police’s Economic Offences Wing (EOW) filed a fraud complaint against the couple based on Kothari’s allegations on August 14, 2025. He claimed that he was duped in an investment-cum-loan deal. The complainant’s lawyers said in a statement that they have urged the Enforcement Directorate (ED) to identify and trace the money at the centre of the alleged fraud case.

The couple took to their social media accounts to debunk the allegations directed at them, calling them “baseless and motivated.”

Shilpa Shetty–Raj Kundra Respond to the Allegations

Raj Kundra responded to the spiralling allegations and charges under Section 318 of the Bharatiya Nyaya Sanhita (BNS), which deals with the offence of cheating, against him and his wife. In a post on X, the businessman stated that the matter has been given a “criminal colour” without any lawful basis. He wrote, “A quashing petition has already been filed before the Hon’ble High Court and is pending adjudication.”

Kundra further expressed his faith in the judicial system and urged the media not to engage with the matter while it remains 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 Indian judiciary,” Raj Kundra wrote in his post on X.

On December 17, 2025, the Baazigar actress posted on her Instagram Story, dismissing the allegations that the EOW has invoked Section 318 of the BNS.

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Kundra-Shetty-Kothari: What is the Rs 60 Crore Investment Scam?

Deepak Kothari, owner of Lotus Capital Financial Services, filed a complaint against Raj Kundra and Shilpa Shetty on August 14, 2025. The fraud complaint was linked to the now-defunct company Best Deal TV Pvt Ltd, in which Kundra and Shetty served as directors. Kothari alleged that between 2015 and 2023, he invested ₹60 crore in the company with the expectation of returns.

During the investigation, Kundra stated that part of Kothari’s investment was paid to actresses Neha Dhupia and Bipasha Basu as professional fees. He had mentioned in October 2025 that his company, which dealt in electrical and home appliances, had suffered significant losses. He claimed that the company was unable to repay the borrowed funds due to losses incurred following demonetisation in 2016.

According to the First Information Report (FIR), the funds were allegedly diverted to other sources. The case was initially registered under Section 406 of the Indian Penal Code, which deals with criminal breach of trust. The accused were booked under the IPC as the case was filed before the BNS came into force on July 1, 2024.

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