Shilpa Shetty cancels foreign trip after court denies permission in Rs 60-crore fraud case

Bollywood actress Shilpa Shetty has decided to cancel her upcoming foreign trip after the Bombay High Court declined to allow her to travel abroad.

The court refused to temporarily lift the Look Out Circular (LOC) issued against her and her husband, Raj Kundra, who are both under investigation in a Rs 60-crore cheating case.

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On Thursday, Shetty’s lawyer informed the court that the actress would no longer be travelling overseas. This decision came after the court rejected their plea to suspend the LOC, which prevents the couple from leaving the country while the Mumbai Police’s Economic Offences Wing (EOW) continues its investigation.

The case dates back to a complaint filed in August by businessman Deepak Kothari, the director of Lotus Capital Financial Services Ltd. He alleged that Shilpa Shetty, Raj Kundra and another person cheated him of over Rs 60 crore between 2015 and 2023.

According to the complaint, Shetty and Kundra allegedly approached Kothari through a mediator in 2015 seeking a Rs 75-crore loan for their television venture, Best Deal TV Pvt Ltd. The company promoted lifestyle products and operated an online shopping platform.

Also Read: Shilpa Shetty quizzed for 4.5 hours by EOW in alleged ₹60 cr cheating case

Initially, the couple reportedly agreed to pay 12 per cent interest on the loan. However, they later asked Kothari to treat the transaction as an “investment” instead of a loan, promising regular returns and full repayment of the principal amount.

Believing the assurances, Kothari claimed he transferred Rs 31.95 crore in April 2015 under a share subscription agreement, and another Rs 28.53 crore in September 2015 through a supplementary agreement. The total amount—nearly Rs 60 crore—was deposited into Best Deal TV’s bank account.

However, Kothari alleged that his attempts to recover the money failed. He accused the couple of misusing the funds for personal expenses instead of business purposes. The EOW later registered a case under cheating and criminal breach of trust.

Lawyer Prashant Patil, representing Shilpa Shetty and Raj Kundra, has denied the allegations. He said the accusations are “false and baseless” and that the couple is fully cooperating with investigators. “The truth will come out through proper legal procedures,” he added.

The court’s refusal to lift the LOC means that both Shilpa and Raj cannot leave India until further orders. The couple had reportedly planned an international trip, but those plans now stand cancelled.

This case adds another legal chapter to Raj Kundra’s controversial history. He was previously arrested in 2021 in connection with a pornography-related case, though he was later released on bail.