The Bombay High Court recently refused to grant relief to actress Shilpa Shetty in the Rs 60 crore fraud case. The actress had sought cancellation of a lookout notice issued against her by the Economic Offences Wing (EOW) in connection with the fraud case involving her husband, Raj Kundra.
Shilpa Shetty claims no links to Raj Kundra`s business
Shilpa Shetty reportedly informed the court that she had no connection with Raj Kundra’s company and that she was only a nominal director. However, the division bench of Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad rejected Shilpa`s plea, stating, “If you want to go abroad, first become a government witness.”
Additionally, the court asked Shilpa Shetty to file a written affidavit by October 16, 2025. “If you say you have no connection with the company, get your husband Raj Kundra to sign an affidavit to this effect,” the bench noted, adding that the couple should first deposit the entire Rs 60 crore allegedly owed to the complainant in court. “The fraud case is worth Rs 60 crore- pay it first,” the judges said.
About the fraud case
The case is regarding allegations that Raj Kundra and Shilpa Shetty, the directors of the now-defunct Best Deal TV Private Limited, deceived businessman Deepak Kothari of nearly Rs 60 crore in a loan-cum-investment deal. They reportedly cheated him between 2015 and 2023. Kothari has alleged that the couple introduced him to invest in the company, which later redirected the funds for personal use.
During a questioning by the EOW, Raj Kundra argued that his company, which traded in household and electrical appliances, suffered heavy losses due to demonetisation. This makes it unable to repay the borrowed funds. Notably, the businessman has been questioned twice so far, while Shilpa Shetty was interrogated for more than four hours at her residence on October 4.
The couple had allegedly filed a petition seeking the suspension of the lookout circular in order to allow them to travel abroad for professional commitments and leisure trips. The court noted that it could not permit such travel when the two have been accused of cheating. The bench observed that while the two have not been arrested due to their cooperation with the investigation, the court will consider relief only after the amount is deposited.
