Raj Kundra and Shilpa Shetty are facing new legal troubles as Mumbai police’s Economic Offences Wing (EOW) has added a charge of cheating to an ongoing investigation regarding a ₹60 crore loan dispute. Initially, the case was registered for criminal breach of trust under section 406 of the Indian Penal Code (IPC); however, the authorities determined that the circumstances warranted the application of section 420, which addresses cheating and dishonestly inducing delivery of property.
The case stems from a complaint by Deepak Kothari, a 60-year-old businessman from Mumbai’s Juhu area, who claims he was defrauded in a loan-cum-investment agreement associated with the now-defunct venture Best Deal TV Pvt Ltd, where both Kundra and Shetty held directorial positions. In light of the new charge, a conviction for cheating could lead to imprisonment for up to seven years plus potential fines.
In response to these allegations, Raj Kundra has publicly denied any wrongdoing, labeling the accusations as baseless. In a statement shared on his verified social media account, he urged the media to refrain from speculation as legal proceedings are underway. He emphasized that they have fully cooperated with the investigation and expressed confidence in the judiciary and law enforcement process, indicating that a quashing petition is pending in the High Court.
The developments in this case highlight significant legal challenges for the couple as they navigate the allegations surrounding the alleged financial misconduct. With the police continuing their inquiry, the situation remains dynamic, and the outcome will depend heavily on the judicial process ahead.