Saturday, March 29, 2025
Mumbai, Oct 7, 2025 – Bollywood actress Shilpa Shetty is under the scanner of the Mumbai Police’s Economic Offences Wing (EOW) in connection with an alleged ₹60 crore fraud case. On Monday, an EOW team reached Shetty’s residence, where she was questioned for nearly 4.5 hours.
According to sources, Shetty handed over several documents to the police related to financial transactions involving her advertising company’s bank accounts. Officials confirmed that her statement, along with that of her husband, businessman Raj Kundra, has been recorded.
In his statement, Raj Kundra claimed that the disputed ₹60 crore loan was taken from a non-banking financial company (NBFC) owned by complainant Deepak Kothari. He maintained that the amount was later adjusted as equity in Kothari’s firm. Out of this sum, ₹20 crore was allegedly used for celebrity promotions, publicity campaigns, and related expenses. Kundra also presented promotional photographs showing Bollywood stars Bipasha Basu and Neha Dhupia as part of the campaigns.
EOW officials said Shetty is a significant shareholder in the company under probe, which makes her role central to the investigation. Evidence suggests that despite being a shareholder, she received separate celebrity endorsement fees, which were later accounted for as company expenses—raising concerns of misappropriation of funds.
In August 2025, the Mumbai Police’s EOW registered a case of cheating and criminal conspiracy against Shilpa Shetty and Raj Kundra involving ₹60.4 crore (approximately $72 million). The case is linked to the now-defunct Best Deal TV Pvt Ltd. A lookout notice was issued against the couple in September after the complaint was filed by Deepak Kothari, director of UY Industries Pvt Ltd.
Kothari alleged that between 2015 and 2023, Raj Kundra and Shilpa Shetty induced him to invest heavily in their business ventures, but the promised returns never materialized.
The investigation is ongoing, and both Shetty and Kundra are expected to face further questioning as authorities verify the submitted documents and financial records.
