Bollywood star Shilpa Shetty was questioned by the Mumbai Police’s Economic Offences Wing (EOW) on Saturday in connection with an alleged cheating case involving a businessman who claims he was duped of ₹60 crore.
According to police sources, Shilpa spent nearly four and a half hours at the EOW office, where they asked her detailed questions about her and her husband Raj Kundra’s role in the case. While her statement has been recorded, officers have not yet confirmed the extent of her involvement.
So far, statements from five individuals, including Raj Kundra, are on record as part of the ongoing probe.
The controversy began earlier this year when businessman Deepak Kothari, director of Lotus Capital Financial Services Ltd, filed a complaint accusing Shilpa, Raj, and another associate of cheating him between 2015 and 2023.
He alleged that the couple took money from him under the guise of expanding their television and e-commerce business but instead used the funds for personal purposes.
According to the complaint, Kothari first got a proposal in 2015 to invest ₹75 crore in their company, Best Deal TV Pvt Ltd, which they promoted as an online shopping platform for lifestyle products.
The couple reportedly assured him of 12% annual returns and repayment of the principal amount. Initially presented as a loan request, the deal later restructured as an investment, with promises of monthly payouts.
Believing in their proposal, Kothari transferred ₹31.95 crore in April 2015 through a share subscription agreement, followed by another ₹28.53 crore in September 2015 under a supplementary agreement. The money, he said, went directly into Best Deal TV’s accounts.
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However, when he tried to recover his investment, his efforts were unsuccessful. Kothari has alleged that the couple “dishonestly misused” his funds for personal gain rather than for the business they had promised to grow.
In August, the Mumbai Police officially registered a case under charges of cheating and criminal breach of trust. A month later, the EOW issued a Look Out Circular (LOC) against both Shilpa and Raj to prevent them from leaving the country while the investigation continues.
Responding to the allegations, the couple’s lawyer, Prashant Patil, issued a statement defending them. “We have full faith in the Indian judiciary. My clients will cooperate with the authorities and present their side of the truth,” he said.
While Shilpa Shetty has not made any public comment, sources close to her say she is “fully cooperating” with the investigators. The EOW is going to summon more individuals linked to the case in the coming weeks.