The Bombay High Court has directed Bollywood actor Shilpa Shetty and her husband, businessman Raj Kundra, to deposit ₹60 crore before they can travel to Los Angeles or any other foreign destination. The decision came as part of the court’s proceedings in connection with an ongoing ₹60 crore fraud case involving the couple’s former business venture.
Court Restricts Foreign Travel Until Deposit Is Made
According to sources, the directive was issued on Wednesday while hearing a plea filed by Shetty and Kundra seeking to quash the Look Out Circular (LOC) issued against them. The LOC had been preventing the couple from traveling abroad. Their plea argued that the circular was unjustified since the allegations in the case were false and baseless.
Table of Contents
However, the High Court observed that since the alleged fraud involved an amount of ₹60 crore, it would be appropriate for the petitioners to deposit the same amount before being permitted to leave India. The court clarified that allowing the couple to travel without any financial security could risk non-compliance if the investigation progresses further.
The matter has been scheduled for further hearing after the couple complies with the court’s directive to deposit the amount.
Background of the ₹60 Crore Fraud Case
The ongoing case stems from a complaint related to Best Deal TV Private Limited, a now-defunct home shopping channel co-founded by Raj Kundra and Shilpa Shetty. The company, which was launched in 2015, operated as a celebrity-endorsed e-commerce platform selling lifestyle products promoted by Bollywood stars.
The Economic Offences Wing (EOW) of the Mumbai Police is investigating the case following allegations that several investors were cheated through false promises of high returns. The complaint accuses the promoters and directors of the company of collecting large sums of money but failing to deliver the promised returns or refund the investments.
Authorities have claimed that the total fraud amount is approximately ₹60 crore, prompting the issuance of the Look Out Circular against both Shetty and Kundra to prevent them from leaving the country during the probe.
Shilpa Shetty’s Statement to the Mumbai Police(Shilpa Shetty and Raj Kundra to Deposit ₹60 Crore)
On Tuesday, actor Shilpa Shetty recorded her statement with the Mumbai Police in connection with the case. According to officials, a team from the EOW visited her Juhu residence on October 4 and questioned her for nearly four hours.
During the questioning, Shetty maintained that she had no involvement in managing the company’s day-to-day affairs and was unaware of the alleged financial irregularities. She reportedly told investigators that while she co-founded Best Deal TV with her husband, she did not participate in its operational or financial decisions.
An EOW official said, “Shilpa Shetty clarified that she was a non-executive director in the company and was not involved in financial dealings. She said she trusted her husband and the management team to handle the business operations.”
Company Now in Liquidation
Best Deal TV Private Limited has since been liquidated, and the company’s operations ceased years ago. Sources close to the investigation said that several investors and vendors had filed complaints after payments were allegedly delayed or defaulted.
READ ALSO- Kantara Star Rishab Shetty Comforts Emotional Wife Pragathi at Film’s PremiereThe EOW has been examining financial transactions, contracts, and company records to determine whether there was deliberate mismanagement or fraud. Raj Kundra, who has previously faced controversies related to his business ventures, is expected to face further questioning in the coming days.
Legal Proceedings Continue
The High Court’s order requiring the ₹60 crore deposit has been viewed as a precautionary measure to ensure that the couple remains accountable during the investigation. Legal experts say that such directives are not uncommon in financial fraud cases where large sums are involved.
A senior legal analyst commented, “The court’s decision to demand a deposit equal to the alleged fraud amount acts as both a safeguard for the investigation and a test of the petitioners’ bona fides. It ensures they can travel abroad only after demonstrating financial responsibility.”
The next hearing will take place after the deposit is made, during which the court is likely to review the couple’s request to lift the Look Out Circular.
Shilpa Shetty and Raj Kundra’s Past Legal Troubles
This is not the first time Raj Kundra has faced legal scrutiny. In 2021, he was arrested in connection with a pornography-related case, though he later secured bail. Shilpa Shetty, meanwhile, maintained her distance from that controversy as well, insisting she had no role in her husband’s business dealings.
Despite these challenges, the couple continues to maintain that they are innocent in the current fraud case and that they have been wrongly accused.
As of now, both Shilpa Shetty and Raj Kundra remain under travel restrictions until they comply with the Bombay High Court’s order. Their legal team is expected to arrange for the deposit and present proof in court soon.
The case highlights the growing scrutiny of celebrity-led business ventures and the accountability of public figures involved in financial enterprises. For now, the Bombay High Court’s ₹60 crore directive stands as a significant hurdle for the couple as they seek to clear their names and resume international travel.
By
