₹60 Crore Fraud Case: Shilpa Shetty and Husband Raj Kundra Move Bombay High Court to Quash FIR
Couple Seeks Relief from Police Action and Filing of Chargesheet Until Case Is Heard
Mumbai:
Actor Shilpa Shetty and her businessman husband Raj Kundra have approached the Bombay High Court seeking to quash a cheating case filed against them involving alleged fraud of nearly ₹60 crore.
Apart from requesting the quashing of the FIR, the couple has also sought an interim order restraining the police from filing a chargesheet or taking any coercive action against them until the case is heard in court.
The petitions came up for hearing on Monday before a division bench of Chief Justice Devendra Kumar Upadhyaya and Justice Gautam Patel (Gautam Ankhd). The court directed that a copy of the petition be provided to the original complainant Deepak Kothari, and adjourned the hearing to November 20.
Couple’s Argument
In their petitions, Shilpa and Raj claimed that the criminal complaint was filed with malicious intent and based on false and misleading facts.
Shilpa stated that she had no role in the day-to-day operations of the company and was associated with it only for a limited period.
They argued that financial losses occurred due to unforeseen business circumstances, particularly during the 2016 demonetization, which severely impacted their cash-based operations. The couple maintained that the losses were purely commercial and not part of any criminal conspiracy or fraud.
Background of the Case
The FIR stems from a complaint filed by businessman Deepak Kothari, who alleged that he invested ₹60.48 crore in Best Deal TV Pvt. Ltd., an online shopping company promoted by Raj Kundra and Shilpa Shetty.
According to the complaint:
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The couple held 87.6% shares in the company.
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Kothari invested ₹31.9 crore in April 2015 under a Share Subscription Agreement, and an additional ₹28.53 crore in September 2015 under an extended agreement.
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Kothari alleged that the funds were misused for personal expenses by Shilpa and Raj instead of being used for business purposes.
The police subsequently registered a cheating and criminal breach of trust case under the Indian Penal Code.
Current Status
The High Court will hear the matter again on November 20, 2025, after giving the complainant a chance to respond.
