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Bollywood star Shilpa Shetty faced over 4 hours of intense questioning in a Rs 60 crore fraud probe. What did she reveal about the missing money and her husband Raj Kundra’s alleged involvement?
Shilpa Shetti questioned for 4 hours
Mumbai: Bollywood actress and entrepreneur Shilpa Shetty was interrogated by the Economic Offences Wing (EOW) of the Mumbai Police for approximately 4.5 hours on Monday in connection with a high-profile Rs 60 crore financial fraud case. The questioning took place at her Mumbai residence, where she provided her statements and handed over crucial documents for verification.
According to law enforcement officials, the investigation focused on her role in financial transactions tied to her now-defunct advertising company. She shared details of several bank account transfers and denied any wrongdoing, insisting that all business dealings were legitimate.
Authorities have begun scrutinising the flow of funds to understand the purpose behind the transfers.
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The case was registered at Juhu Police Station on August 14 following a complaint by businessman Deepak Kothari. Kothari alleged that Shetty and her husband Raj Kundra conspired to cheat him of Rs 60 crore by misusing funds meant for a loan-cum-investment proposal for business expansion.
Kothari claimed that between 2015 and 2023, the funds were diverted into personal expenses instead of corporate growth. He also alleged that Shetty had provided him with a written guarantee before resigning as a director of the company in 2016. After repeated attempts to recover the loan failed, Kothari approached the police.
In September, Raj Kundra recorded his statement under police summons. During questioning, he alleged that a portion of the Rs 60 crore was paid as professional fees to actors Bipasha Basu, Neha Dhupia and producer Ekta Kapoor. Investigators traced several suspicious fund transfers linked to well-known personalities and companies, including Balaji Entertainment.
The FIR, filed under Sections 403 (dishonest misappropriation of property), 406 (criminal breach of trust), and 34 (common intention), is now being probed alongside several other cases, with further statements expected from key players.
The investigation has already had a significant impact on Shetty’s business ventures. As the case unfolded, Mumbai Police issued a Lookout Circular (LOC) against the couple, preventing them from leaving the country amid ongoing legal hurdles.
Meanwhile, Shilpa announced the closure of her popular Mumbai restaurant, Bastian Bandra, claiming it marked “the end of an era” but denied financial issues were behind the decision.
