Shilpa Shetty, Raj Kundra's Lawyer Reacts To Them Being Booked For Rs. 60 Cr Fraud, 'Against My..'

Actress, Shilpa Shetty and her husband, Raj Kundra, found themselves in rough waters after they were booked by the Economic Offences Wing (EOW) for allegedly cheating a Mumbai-based businessman. According to reports, the couple cheated the businessman of Rs. 60.4 crore in connection with a loan-cum-investment deal. Another unknown person was also charged in connection with the incident. However, amid the chaos, Shilpa and Raj's lawyer has reacted to the whole fiasco. 

Shilpa Shetty and Raj Kundra's lawyer, advocate Prashant Patil, reacts to the fraud allegations

On August 14, 2025, Shilpa Shetty and Raj Kundra's lawyer issued a statement sharing the couple's side of the matter. Advocate Prashant Patil informed the media that the allegations against his clients are completely false. He added that the statements being shown are old and from a time when the company was in financial distress. He stated:

"My clients have been informed by a certain segment of electronic and print media that there is an alleged case registered against my clients at the Economic Offence Wing, Mumbai. At the outset, my clients deny all the allegations against my clients, which are purely civil in nature and have been adjudicated by the NCLT Mumbai on 04/10/2024. This is an old transaction, wherein the company went into financial distress and eventually got entangled in a long legal battle at the NCLT."

In the same statement, Advocate Prashant Patil revealed that neither Shilpa nor Raj is involved in any criminal activity. He added that they have submitted all the necessary documents as and when requested by the EOW. Prashant added that the agreement with the company was purely of equity and has already received liquidation orders. He was quoted as saying:

"There is no criminality involved and our auditors have submitted all the necessary supporting documents from time to time, as requested by the EOW, including detailed cash flow statements. The investment agreement in question is purely in the nature of an equity investment. The company has already received a liquidation order, which has also been placed before the police department. "

Prashant also shared how the couple's CA has visited the police station more than 15 times with supporting documents over the past year. Advocate Prashant Patil further added that the accusations are nothing but baseless and are an attempt to ruin Shilpa and Raj's image. He added that appropriate actions are being taken in the matter and stated:

"The concerned Charter accounts have visited the police station for the last year more than 15 times, with all the evidence supporting the claims of my clients. This is nothing but a baseless and malicious case aimed at maligning our clients, and appropriate action is being initiated from our side against the perpetrators."

What are Shilpa Shetty and Raj Kundra being booked for?

Shilpa and Raj are being booked for fraud after a complaint was filed by Deepak Kothari, alleging that the couple defrauded him of over Rs. 60 crore, which also involved their now-defunded company, Best Deal TV Pvt Ltd. According to the businessman, he invested the amount between 2015 and 2023 under the pretext of expanding a business, but the money was allegedly misused for personal expenses. The case has now been handed over to EOW for further investigation as the amount involved exceeded Rs. 10 crore. 

Deepak Kothari alleged that an individual named Rajesh Arya introduced him to Shilpa Shetty and Raj Kundra, who were the directors of Best Deal TV, a home shopping and online retail platform, at the time. He added that Rajesh had requested a loan of Rs. 75 crore for the company at a 12 per cent annual interest rate. However, to reduce the tax burden, he proposed presenting the amount as an 'investment.' According to a report by NDTV, Deepak transferred Rs. 31.95 crore in April 2015, and Rs. 28.54 crore between July 2015 and March 2016.

In total, he had allegedly transferred over Rs. 60.48 crore for the deal. Deepak also paid an additional Rs. 3.19 lakh as stamp duty. However, Shilpa Shetty resigned as the company's director after a few months, and soon after, an insolvency case of Rs. 1.28 crore emerged against the company. Deepak Kothari revealed that he was unaware of the matter and thereafter requested that his money be returned, but his requests fell on deaf ears.

What are your thoughts on Shipa Shetty and Raj Kundra's lawyer, Advocate Prashant Patil's statement?

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