The Economic Offences Wing’s probe into businessman Raj Kundra has widened to include alleged financial links to Bollywood celebrities, raising fresh questions about money flows, endorsements, and accountability in India’s entertainment industry.
Expanding Web of Allegations
In a fresh twist to the ₹60 crore fraud case, businessman Raj Kundra reportedly told investigators that a portion of the disputed funds was paid as fees to Bollywood actresses Bipasha Basu and Neha Dhupia. Sources close to the inquiry said these claims surfaced during his recent five-hour questioning by the Mumbai Police’s Economic Offences Wing (EOW). While Kundra remained evasive on several other crucial points, the disclosure has intensified speculation around the case.
Investigators revealed that transactions linked to Kundra’s now-defunct venture, Best Deal TV Pvt. Ltd., extended beyond routine business operations. According to reports, nearly ₹25 crore in direct transfers were tracked, some allegedly reaching accounts associated with Bollywood personalities and entertainment companies such as Balaji Entertainment.
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Tracing the Money Trail
The EOW has confirmed that fund flows from the company’s accounts reached at least four actresses, including Shilpa Shetty, Bipasha Basu, and Neha Dhupia. Officials also pointed to irregular transfers that took place during the 2016 demonetisation period, when the company was already facing a liquidity crunch. Evidence of these transfers has been secured by investigators, though the exact purpose of the payments remains under scrutiny.
Kundra has also been asked to resubmit videos produced for Best Deal TV, despite claiming that these materials were already handed over to the Property Cell. Officials suggested that the evidence will be re-examined as part of a larger review of financial dealings.
A Probe with Wider Ripples
The fraud case, which first came to light through a complaint by businessman Deepak Kothari, alleges that investor funds were misappropriated under a loan-cum-investment deal with Best Deal TV between 2015 and 2023. Both Kundra and actress Shilpa Shetty are under investigation, with Look Out Circulars issued to restrict their international travel.
The EOW has signaled that further summonses may follow, as more names are expected to surface in connection with the money trail. For Bollywood, the developments have reignited debate over celebrity endorsements, financial transparency, and the blurred lines between personal branding and business operations.