Businessman Raj Kundra, husband of Bollywood actor Shilpa Shetty, has been summoned by the Economic Offences Wing (EOW) of Mumbai Police in connection with a Rs 60.48 crore investment fraud case.
Kundra was originally asked to appear on September 10, but his questioning has now been rescheduled to September 15 following a request from his legal team.
The case was registered after businessman Deepak Kothari, director of Lotus Capital Financial Services, alleged that funds provided for Best Deal TV Pvt Ltd—a home shopping venture linked to Kundra and Shetty—were diverted for personal use instead of business expansion.
The FIR, filed under IPC sections 403 (dishonest misappropriation), 406 (criminal breach of trust), and 34 (common intent), covers transactions between 2015 and 2023.
To prevent possible flight risk, the police have issued a Look-Out Circular (LOC) against both Raj Kundra and Shilpa Shetty, barring them from leaving the country while the probe is underway.
Investigators have also called in an NCLT-appointed auditor to trace the flow of funds linked to the company’s insolvency proceedings.
The couple’s lawyer has denied any wrongdoing, claiming the dispute is a civil matter already addressed by the National Company Law Tribunal in October 2024. The defence further said that all financial records, including audit reports and cash flow statements, have been provided to investigators.
Raj Kundra is expected to appear before the EOW on September 15, when investigators will record his statement and question him regarding the alleged diversion of funds.
