Mumbai, Special Correspondent
Businessman Raj Kundra, husband of actor Shilpa Shetty, has broken his silence over reports claiming that the Bombay High Court directed the couple to deposit ₹60 crore before traveling abroad. Dismissing the claims as “misleading and incorrect,” Kundra said the court has issued no such order.
Speaking to HT City, Kundra said,
“The court has not directed me to deposit any amount, as incorrectly stated. It has merely sought details regarding the purpose of travel along with the formal correspondence to be submitted on the next hearing date, October 14.”
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He further expressed frustration over what he called “repeated misrepresentations” by the claimant in the case.
“I have had enough of the claimant’s repeated misrepresentations. Action is being taken against the claimant as we speak. Many facts will come to light in the coming days,” Kundra said, urging media outlets to confirm facts before publishing misleading information.
Background: The ₹60-Crore Fraud Case
Recently, Shilpa Shetty and Raj Kundra filed a plea in the Bombay High Court seeking to quash the Look Out Circular (LOC) issued against them. The circular was linked to an alleged ₹60-crore financial fraud currently under investigation by the Economic Offences Wing (EOW) of the Mumbai Police.
The complaint was filed by Deepak Kothari, a 60-year-old director of Lotus Capital Financial Services. Kothari alleged that between 2015 and 2023, he invested funds with the couple’s company, but the money was used for personal expenses instead of business expansion.
According to the complaint, Kothari transferred ₹31.95 crore in April 2015 and another ₹28.53 crore in September 2015 under separate agreements. Later, he discovered that insolvency proceedings had been initiated against the company and that other investors had also been allegedly defrauded.
Legal Developments
The EOW investigation reportedly found irregularities in the use of the invested funds. Consequently, an FIR was filed against Raj Kundra, Shilpa Shetty, and an unidentified associate under Sections 403 (dishonest misappropriation), 406 (criminal breach of trust), and 34 (common intent) of the Indian Penal Code.
Kundra has maintained that the allegations are “baseless and politically motivated”, and said he is fully cooperating with the investigation.
“I have faith in the legal process. The truth will prevail soon,” he said.
Concern Over Media Misreporting
Raj Kundra also voiced concern about inaccurate media coverage surrounding the case.
“Often, what is reported does not match the court records. I hope the media verifies information before publishing such stories,” he remarked.
His statement underscores a larger issue — not just the legal battle over financial allegations, but also a fight for reputation and accuracy in the public eye.
With the next hearing scheduled for October 14, attention now turns to whether the Bombay High Court will allow Kundra and Shetty to travel abroad — and whether the coming days will finally bring clarity to a controversy that has stirred both the legal and media circles of Mumbai.
