Mumbai, Aug 14, 2025 - Bollywood actor Shilpa Shetty and her husband, businessman Raj Kundra, have been charged with defrauding a Mumbai-based businessman of over ₹60 crore in a case linked to their now-defunct television shopping venture, Best Deal TV Pvt Ltd.

According to the complaint filed by businessman Deepak Kothari, the alleged fraud took place between 2015 and 2023. Kothari claims he gave the couple a total of ₹60.48 crore for business expansion, but instead of using it for the company, they allegedly diverted the funds for personal expenses.

Kothari stated that he first came into contact with the couple through their associate, Rajesh Arya, in 2015. At the time, Shetty and Kundra were both directors of Best Deal TV, an online shopping platform. Shetty reportedly held more than 87% of the company’s shares.

Arya allegedly approached Kothari seeking a ₹75 crore loan for the company, offering an annual interest rate of 12%. However, to avoid higher taxes, he is said to have suggested routing the money as an “investment” instead. After a meeting, the deal was finalised with an assurance that the funds would be returned on time.

The first instalment of ₹31.95 crore was transferred in April 2015. When tax-related concerns persisted, a second agreement was signed in September 2015. Between July 2015 and March 2016, Kothari says he transferred another ₹28.54 crore. In addition, he claims to have paid ₹3.19 lakh in stamp duty for the transactions.

In April 2016, Shetty allegedly provided a personal guarantee for repayment. However, just months later, in September, she resigned as the company’s director. Around the same time, an insolvency case amounting to ₹1.28 crore was filed against the company — something Kothari says he was never informed about.

Despite repeated requests, Kothari alleges the money was never returned. Instead, he accuses Shetty and Kundra of running a deliberate conspiracy over the years, misrepresenting the purpose of the funds and using them for their own benefit.

The complaint was initially lodged at Juhu Police Station on charges of cheating and forgery. Given that the alleged fraud amount exceeded ₹10 crore, the case was transferred to the Economic Offences Wing (EOW) of Mumbai Police for investigation.

An EOW officer confirmed that the matter is under active probe and that statements from all parties involved will be recorded. The allegations, if proven true, could lead to serious criminal charges against the celebrity couple.

Neither Shetty nor Kundra has issued a public statement addressing the allegations at the time of reporting.

The case adds to a series of legal troubles faced by Raj Kundra in recent years. The businessman, known for his ventures in entertainment and online businesses, has previously faced high-profile investigations, though not all resulted in convictions.

Meanwhile, Best Deal TV Pvt Ltd, once promoted as a celebrity-backed e-commerce television channel, shut down operations years ago amid mounting debts and legal disputes.