Shilpa Shetty Fraud Case: Mumbai Police Issues Lookout Notice in ₹60 Crore Scam

Lookout Notice Against Shilpa Shetty and Raj Kundra:The troubles of Bollywood actress Shilpa Shetty and her husband Raj Kundra are not taking the name of decreasing. At the same time, now the Mumbai Police has issued a lookout circular against Shilpa Shetty and Raj Kundra in a case of fraud of Rs 60 crore (Shilpa Shetty Restaurant Fraud Case). 

Lookout circular issued against Shilpa Shetty and Raj Kundra (Lookout Notice Against Shilpa Shetty and Raj Kundra)

Let us tell you that on the basis of Deepak Kothari's complaint, the Economic Offenses Wing (EOW) of Mumbai Police has registered a case (Shilpa Shetty and Raj Kundra Cheating Case). Deepak Kothari has accused Shilpa Shetty and Raj Kundra of fraud. The complainant has alleged that the couple defrauded him of more than Rs 60 crore, which also included Shetty (Lookout Notice Against Shilpa Shetty and Raj Kundra) and Raj Kundra's now closed company, Best Deal TV Private Limited. At the same time, Mumbai Police has issued a lookout circular against Shilpa Shetty and Raj Kundra in a case of fraud of Rs 60 crore. 

Lawyer Prashant Patil had presented the clarification

On the other hand, Shilpa Shetty and Raj Kundra's lawyer had earlier denied these allegations regarding this matter and said that these were purely of a civil nature and the verdict on these has been given by NCLT Mumbai on October 4, 2024? (Shilpa Shetty and Raj Kundra Cheating Case). Lawyer Prashant Patil said, "This is an old transaction. There is no criminal case involved in this, and our auditors have submitted all the necessary supporting documents, including detailed cash flow statements on the request of the Economic Offenses Wing (EOW) (Shilpa Shetty Restaurant Fraud Case) from time to time."

What is the cheating case? (Shilpa Shetty and Raj Kundra Cheating Case)

The case was initially registered at the Juhu police station under sections related to cheating and forgery. However, since the amount involved was more than Rs 10 crore, the case was transferred to the Economic Offences Wing (EOW). Kothari, a Juhu resident and director of Lotus Capital Financial Services, said a man named Rajesh Arya had introduced him to Shilpa Shetty and Raj Kundra, who were then directors of home shopping and online retail platform Best Deal TV Pvt Ltd. The couple allegedly owned 87.6 per cent shares of the company. The accused allegedly sought a loan of Rs 75 crore at an interest rate of 12 per cent, but later convinced them to put this money as an "investment" to avoid high taxes, promising repayment of the principal as well as monthly returns.

Frequently Asked Questions (FAQ)

1. Why has a lookout notice been issued against Shilpa Shetty and Raj Kundra?
Answer: Mumbai Police has issued a lookout circular (LOC) against Shilpa Shetty and her husband Raj Kundra in an alleged fraud case of Rs 60 crore. The case is related to their now-defunct company 'Best Deal TV Private Limited', in which a businessman, Deepak Kothari, has accused them of fraud of Rs 60.4 crore.

2. What are the details of this fraud case?
Answer: Mumbai businessman Deepak Kothari has alleged that Shilpa Shetty and Raj Kundra used loans and investments worth Rs 60.4 crore given by him between 2015 and 2023 for personal expenses and not for business expansion as promised. The case pertains to his company Best Deal TV, in which Shilpa and Raj held 87.6% shares.

3. What is a Lookout Circular (LOC)?
Answer: A Lookout Circular is a mechanism used to prevent a person from leaving the country or monitor their movement. It alerts immigration and border control officials. In this case, LOC was issued due to Shilpa and Raj's frequent travel abroad so that the investigation could be conducted smoothly.

4. Who is investigating this case?
Answer: This case is being investigated by the Economic Offences Wing (EOW) of Mumbai Police. The case was registered at Juhu Police Station on 14 August 2025 and was transferred to EOW as the amount was more than Rs 10 crore.

5. How have Shilpa Shetty and Raj Kundra reacted to these allegations?
Answer: Shilpa Shetty and Raj Kundra's lawyer has called these allegations "baseless and malicious". He said that this case is an attempt to tarnish the image of his clients and they are taking appropriate legal action against it.

6. Is any other person involved in this case?
Answer: Yes, a case has also been registered against an unknown person. Apart from this, Deepak Kothari claimed that he was introduced to Shilpa and Raj by a person named Rajesh Arya. EOW has also called the auditor of the company for questioning.

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