The Bombay High Court has told Bollywood actress Shilpa Shetty and her husband Raj Kundra that if they wish to travel to Los Angeles or any other foreign country, they must first deposit Rs 60 crore. This order follows a petition filed by the couple seeking the cancellation of a lookout circular (LOC) issued against them in connection with an FIR related to an alleged Rs 60 crore fraud case.
For the unversed, this case came to light in August when Deepak Kothari, a businessman and director of Lotus Capital Financial Services Limited, filed a complaint accusing Shilpa Shetty and Raj Kundra of fraud involving over Rs 60 crore. According to Kothari's statement, these incidents occurred between 2015 and 2023. He claimed that the couple approached him seeking a loan of Rs 75 crore for their company, Best Deal TV Private Limited, which was started to promote lifestyle products and run an online shopping platform.
Kothari's allegations
It was initially intended to be a loan at 12% interest. However, Shilpa Shetty and Raj Kundra allegedly convinced him to convert it into an investment, promising monthly returns and full repayment of the principal amount. Kothari claimed he transferred Rs 31.95 crore in April 2015 and Rs 28.53 crore in September of the same year, but now says the money was used for personal expenses rather than business expansion.
Shilpa Shetty, Raj Kundra get lookout notice from Mumbai Police
In September, the Economic Offences Wing issued a lookout circular (LOC) against both Shilpa Shetty and Raj Kundra, preventing them from leaving the country without prior permission. Last week, the Economic Offences Wing interrogated Shilpa Shetty for more than four hours, though the exact details of her involvement are still unclear.
Also Read: Shilpa Shetty grilled for 5 hours by Mumbai Police in Rs 60 crore cheating case
