Bollywood actor Shilpa Shetty and her husband, businessman Raj Kundra , are facing serious legal trouble after the Mumbai Police’s Economic Offences Wing (EOW) reportedly found evidence of fund diversion in a Rs 60 crore fraud case .



The case, linked to a loan taken from businessman Deepak Kothari’s non-banking financial company (NBFC) in 2015, has once again put the celebrity couple under the spotlight.



Authorities find signs of major fund misuseAs reported by India Today, the EOW’s preliminary investigation and recorded statements suggest that funds borrowed from Kothari’s NBFC for their company, Best Deal TV Pvt Ltd, were allegedly siphoned off through other firms connected to the couple.



Officials said the money trail points towards possible embezzlement through related companies such as Satyug Gold, Viaan Industries, Essential Bulk Commodities Pvt Ltd, and Statement Media. To confirm the findings, the EOW is now preparing to conduct a forensic audit through a third-party consultant. The audit will help trace how and where the Rs 60 crore was used, or possibly misused.



EOW suspects fake expenses and unpaid vendorsOfficials believe that large sums of money were shown as business expenses, including payments for international travel, broadcasting, warehousing, and office costs. However, investigators suspect many of these expenses could have been fabricated.



EOW sources also revealed that several vendors who worked with Best Deal TV, including a courier company and a media solutions firm, were never paid, despite claims made by the couple. The police plan to question former employees of these companies soon to get more clarity.



Raj Kundra gives an explanation during questioningRaj Kundra has already been questioned by the EOW for nearly five hours. During interrogation, he reportedly told officials that the Rs 60 crore loan was later converted into equity.



He explained that about Rs 20 crore was spent on broadcasting fees, celebrity endorsements, and promotional campaigns for the company. Kundra even named Bollywood actresses Bipasha Basu and Neha Dhupia among those who were paid for brand promotions and provided photos as proof of payments.



Investigators find irregularities in company accountsDespite Kundra’s explanation, investigators found inconsistencies in how the funds were handled. Even though Shilpa Shetty was a majority shareholder in Best Deal TV, she allegedly charged a Rs 15 crore celebrity fee for endorsing the brand, a payment that was recorded as company expenditure. When questioned, Shetty reportedly told the police that she was paid as a model through an ad agency linked to her.



Raj Kundra blames losses on demonetisation Raj Kundra told investigators that the business suffered heavy losses after the demonetisation period since Best Deal TV relied largely on the cash-on-delivery model. He also claimed that promotional videos and other materials involving several celebrities were seized earlier by the Cyber Crime Cell during the p**nography case probe, and that these assets are now under verification by the EOW.




Disclaimer: The information in this report is based on a legal hearing as reported by a third-party source. The details provided represent allegations made by the parties involved and are not proven facts. The case is ongoing, and a final verdict has not been reached. The publication does not claim that the allegations are true.