Mumbai: Raj Kundra questioned for 5 hours by EOW in INR 60 crore fraud case

Actress Shilpa Shetty's husband and businessman Raj Kundra was questioned by the Economic Offences Wing for 5 hours on Monday, September 15. The Economic Offences Wing has registered a case of cheating against Raj Kundra for cheating a businessman of INR 60 crore.

On August 14, the Economic Offences Wing of Mumbai Police registered a case against actress Shilpa Shetty and her husband Raj Kundra for allegedly cheating a businessman of INR 60 crore 48 lakh. Raj Kundra was summoned for questioning in this case. Raj Kundra appeared before the Economic Offences Wing on Monday. He was questioned for about five hours.

During this investigation, Kundra's side was heard regarding the allegations made against him. An investigation is being conducted into where the invested money was used and for what purpose it was spent. During interrogation, Raj Kundra confessed to diverting money to five companies, including Satyug Gold, Vihaan Industries, Essential Bulk Commodity Private Limited, Best Deal and Statement India. Kundra's bank account details revealed that he spent INR 25 crore on personal expenses.

Shilpa Shetty will also be summoned

Shilpa Shetty's statement will also be recorded in this case. However, she has not been summoned yet. If the investigation finds it necessary, she will also be summoned, said officials of the Economic Offences Wing. Raj Kundra and Shilpa Shetty often travel abroad, so a lookout notice has been issued to prevent them from leaving the country.

What is the case?

Raj Kundra and Shilpa Shetty were directors of the online shopping platform Best Deal TV Private Limited. The plaintiff, businessman Deepak Kothari, had invested INR 60 crore 48 lakh in the Kundra couple's company, Best Deal Private Limited, between 2015 and 2023. 

The two of them owned 87.6 percent of the shares in the company. In April 2015, they invested INR 31.9 crore in the company under a ‘Share Subscription Agreement’. Then, in September 2015, another INR 28.53 crore was transferred under the supplementary agreement. Shilpa and Raj used this amount for personal expenses, Deepak Kothari alleged in the complaint.