This case follows their booking by the Economic Offences Wing (EOW) for allegedly defrauding a Mumbai-based businessman of approximately ₹60 crore (PKR 201 crore).
The complaint centres on a loan-cum-investment deal involving the couple’s now-defunct company, Best Deal TV Pvt Ltd. Businessman Deepak Kothari alleges that, between 2015 and 2023, he was persuaded to invest ₹60.48 crore (PKR 202.6 crore) — initially framed as a loan at 12% interest — into the business. Later, to lower tax liabilities the arrangement was rebranded as equity. regular returns and principal repayment was promised as well
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As the agreement soured and company finances became tangled, Shetty resigned as director in 2016, and Best Deal TV entered insolvency proceedings in 2017. FIR under sections related to cheating, forgery, misappropriation of funds, criminal breach of trust, and common intent was prompted as Kothari’s repeated attempts to reclaim his money failed
The case — which involves sums exceeding ₹10 crore (PKR 33.5 crore) — was swiftly taken over by the Economic Offences Wing for deeper investigation. Authorities are pursuing the money trail and the exact role each individual played in the alleged conspiracy.
In response, Shetty and Kundra’s lawyer, Advocate Prashant Patil, vehemently rejected the allegations as "baseless and malicious." the transactions were already litigated before the National Company Law Tribunal (NCLT) in October 2024 asserted Prashant Patil. He also stated that this represents a civil dispute, not a criminal one.
Supporting documents, including cash flow reports, were submitted, and the company’s liquidation order has been shared with law enforcement. Patil accused the case of being an attempt to defame the couple and warned of legal retaliation.
Amid mounting scrutiny, Shetty shared her first public response via Instagram — with an Independence Day video captured on the sets of Super Dancer Chapter 5, where she, along with judges Geeta Kapur and Marzi Pestonji, cheered “Jai Hind” and paid tribute to patriotic sentiments.
This scandal has become a defining moment in Shilpa Shetty’s public life — no longer just a glamorous celebrity but a central figure in a ₹60 crore (PKR 201 crore) financial controversy. Her Independence Day post seems to be aimed at re-centering her image by showing her striving to honour national pride despite personal turmoil.
Shetty and Kundra will be summoned for questioning in the coming days by the the Mumbai EOW. Until then, public attention remains riveted on this evolving drama, where national sentiments clash with serious allegations.
