Bollywood actor Shilpa Shetty Kundra has firmly denied reports suggesting that Mumbai Police’s Economic Offences Wing (EOW) has invoked IPC Section 420 (cheating) against her and her husband, businessman Raj Kundra. Calling the allegations “baseless and motivated,” the actor said the matter is already before the Bombay High Court and remains under judicial consideration.
Actor Responds Publicly, Cites Pending High Court Petition
Addressing the issue on Wednesday, Shilpa Shetty shared a detailed statement on Instagram Stories, pushing back against what she described as misleading narratives.
In her post, she stated that the allegations were being given a “criminal colour without any lawful basis” and clarified that a quashing petition has already been filed before the High Court, where it is currently pending adjudication. She also underlined that both she and her husband have fully cooperated with the investigation and expressed confidence in the judicial process.
Urging restraint, Shetty appealed to the media to be mindful that the case is sub judice.
Background of the ₹60-Crore Dispute
The controversy stems from a complaint filed by Mumbai-based businessman Deepak Kothari, following which the EOW registered a case alleging fraud and cheating of around ₹60 crore.
According to the complaint, Kothari claimed that between 2015 and 2023, he invested significant sums in Best Deal TV Pvt. Ltd., a company linked to the couple, based on assurances of returns and repayment. The FIR alleges that the funds were diverted and not returned despite repeated follow-ups.
Civil Dispute or Criminal Case?
Shilpa Shetty and Raj Kundra have consistently denied any criminal wrongdoing. In earlier statements, they maintained that the matter is civil in nature, arising from a business failure and subsequent insolvency proceedings of the company involved.
The couple has argued that commercial disputes are being mischaracterised as criminal offences, a contention that now forms part of their plea before the High Court.
PMLA Angle Draws Attention
Recent media reports suggested that the alleged inclusion of Section 420, a scheduled offence under the Prevention of Money Laundering Act (PMLA), 2002, could open the door for proceedings by the Enforcement Directorate (ED). Following these reports, the complainant is said to have instructed his legal team to explore further legal options.
However, no conviction has been recorded so far, and investigations remain ongoing.
