Post by : Rameen Ariff

Bollywood actress Shilpa Shetty was questioned for over four hours by Mumbai’s Economic Offences Wing (EOW) on Wednesday in connection with a Rs 60 crore fraud case linked to her husband, businessman Raj Kundra. The investigation focuses on alleged fund transfers into a company reportedly owned or associated with Shetty, raising concerns about potential misuse of investor money.

The case originates from a complaint filed by Deepak Kothari, director of Lotus Capital Financial Services. According to the complaint, between 2015 and 2023, Kothari invested Rs 60.48 crore in Best Deal TV Pvt. Ltd., a company connected to the couple, for business expansion purposes. Kothari alleged that a significant portion of these funds was allegedly diverted for personal use, with Rs 15 crore reportedly transferred to Shilpa Shetty’s company account.

During the EOW interrogation, officials meticulously examined bank statements, financial records, and other relevant documents. These documents were seized for verification and further analysis. So far, the EOW has recorded statements from five individuals, including Raj Kundra, as part of the ongoing probe into the alleged financial irregularities.

In a related development, the Bombay High Court recently denied the couple’s request to travel abroad for a family vacation in Phuket, Thailand, which was scheduled between October 2 and 5. The couple had requested a suspension of a lookout circular citing confirmed bookings for their vacation. However, the court emphasized the seriousness of the ongoing investigation and dismissed the plea, underlining the legal implications of the case.

The EOW has reportedly traced approximately Rs 25 crore from the allegedly misappropriated funds. Some of these transactions were allegedly directed to industry figures and production houses, reportedly including Bipasha Basu, Neha Dhupia, and Balaji Entertainment. The ongoing investigation continues to track the flow of funds to verify if there was any diversion or misuse.

Shilpa Shetty has not yet issued any public statements regarding the interrogation or the ongoing case. Investigators continue to probe the alleged diversion of investor money and other financial irregularities connected to Best Deal TV Pvt. Ltd. The case is still active, with further statements, document verifications, and asset investigations expected in the coming weeks.

This case has drawn significant media attention due to Shilpa Shetty and Raj Kundra’s high-profile status in Bollywood and the scale of the alleged Rs 60 crore financial fraud. Authorities continue to scrutinize all transactions to ensure accountability and transparency in the case.

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