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Exclusive| Raj Kundra reacts to Bombay HC's alleged order asking him and Shilpa Shetty to deposit ₹60 crores to travel
After the court ordered Shilpa Shetty and Raj Kundra to deposit rs 60 crore for foreign travel amidst a fraud case, Raj clarifies his side of the story to us
Amid the ongoing case of fraud surrounding actor Shilpa Shetty Kundra's husband, Raj Kundra, recent reports stated that the Bombay High Court on Wednesday ordered Shilpa and Raj Kundra to first deposit ₹60 crore if they wish to travel to Los Angeles in the United States or any other foreign location. However, Raj Kundra clarified to HT City that the court has not directed him to deposit any amount.
He 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.”
Raj further expressed frustration over what he termed “repeated misrepresentations” by the claimant in the case. “I have had enough of the claimant’s repeated misrepresentations, and action is being taken against the claimant as we speak. Many facts will come to light in the coming days. I urge the media to verify facts before publishing misleading information.”
This comes after the couple filed a plea in the high court seeking the quashing of the Look Out Circular (LOC) issued against them in connection with an FIR over an alleged fraud of ₹60 crore. The high court has adjourned the matter until October 14.
About the Case
The case, being investigated by the Economic Offences Wing (EOW) of Mumbai Police, is based on a complaint filed by Deepak Kothari, a 60-year City of Mumbai and director of Lotus Capital Financial Services. Kothari claimed that between 2015 and 2023, Shilpa Shetty and Raj Kundra used the money he had given them to grow their business for their personal expenses. Kothari stated that he transferred ₹31.95 crore in April 2015 under a shared subscription agreement and another ₹28.53 crore in September 2015 under a supplementary agreement. However, Kothari later found that insolvency proceedings had begun against the company for allegedly cheating another investor.
The Allegations
Kothari accused the couple of “dishonestly using” the funds for their personal benefit and failing to repay the amount. The EOW found that Kothari’s funds had been misused and filed a case against Shilpa, Raj, and an unidentified associate under sections 403, 406, and 34 of the Indian Penal Code.
