Bollywood actor Shilpa Shetty and her husband, businessman Raj Kundra, are under investigation by Mumbai Police’s Economic Offences Wing (EOW) following a complaint by local businessman Deepak Kothari alleging they misappropriated over ₹60 crore ($7.2 million) meant for business investment.
According to the police complaint, Kothari said Shetty and Kundra obtained the funds between 2015 and 2023 after promising to invest them in their online retail venture, Best Deal TV Pvt Ltd, where Shetty held an 87.6% stake at the time.
Kothari alleged that an intermediary, Rajesh Arya, introduced him to the couple and initially sought a ₹75 crore loan at a 12% annual interest rate. The couple later proposed that Kothari invest instead to avoid higher taxes, promising business growth. Kothari said he transferred ₹31.9 crore in April 2015, followed by additional payments over the years, totaling ₹60.48 crore. However, he alleges the money was spent on personal expenses rather than business purposes.
Mumbai Police have registered a case against Shetty, Kundra, and Arya, and the EOW has begun an investigation. Representatives for Shetty and Kundra did not immediately respond to Press’’ requests for comment.
