The Bombay High Court has refused to allow actress Shilpa Shetty and her husband, businessman Raj Kundra, to travel abroad for a family vacation to Phuket, Thailand. The decision comes amid an ongoing ₹60 crore fraud investigation involving the couple.
Court Rejects Lookout Circular Plea
The couple had moved the court seeking suspension of a lookout circular issued by Mumbai Police’s Economic Offences Wing (EOW). They argued that they had already booked flights and hotels for October 2–5.
However, the High Court dismissed the request, citing the ongoing investigation. Lawyers Niranjan Mundargi and Keral Mehta argued that the couple had always returned from foreign trips and fully cooperated with authorities. Despite this, the court maintained its decision.
₹60 Crore Fraud Case Details
The case began with a complaint by Deepak Kothari, director of Lotus Capital Financial Services. He claimed that between 2015 and 2023, he invested ₹60.48 crore in Best Deal TV Pvt. Ltd., a company linked to Shetty and Kundra. Kothari alleged that the funds were diverted for personal use instead of business expansion.
Following a preliminary inquiry, the EOW booked Shetty, Kundra, and another accused under IPC sections:
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403 – Dishonest misappropriation of property
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406 – Criminal breach of trust
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34 – Common intention
Investigators have traced nearly ₹25 crore of the transferred funds. This includes payments to actresses Bipasha Basu, Neha Dhupia, and production houses such as Balaji Entertainment.
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Raj Kundra Under Cryptocurrency Investigation
Meanwhile, Raj Kundra faces a separate probe by the Enforcement Directorate (ED) over cryptocurrency dealings. The ED claims Kundra was the beneficial owner of 285 Bitcoins valued at over ₹150 crore, received from late crypto scam mastermind Amit Bhardwaj.
According to the ED, Kundra concealed wallet addresses and failed to surrender the Bitcoins. The chargesheet states, “The argument given by Kundra that he acted as a mere mediator is not tenable.”
The ED also alleges that Kundra layered the cryptocurrency to appear untainted. Additionally, he reportedly transferred a portion to Shilpa Shetty at a “far below market rate” to disguise its origins. Kundra cited issues like a damaged phone to avoid providing complete wallet details, which investigators suspect was an attempt to destroy evidence.
Businessman Rajesh Satija is also named in the case. The proceedings are under a special court as per the Prevention of Money Laundering Act (PMLA).
Shilpa Shetty Denies Allegations
Reports claimed around ₹15 crore was transferred to a company owned by Shilpa Shetty. Her lawyer strongly denied these claims, calling them “fake” and “intentionally planted” to harm her reputation.
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