Shilpa Shetty Claims No Links To Raj Kundra’s Firm In Fraud Case, Bombay HC Asks For Affidavit

Last Updated:October 14, 2025, 18:24 IST

The court directed Shilpa Shetty to file a written affidavit by October 16.

Shilpa Shetty and Raj Kundra currenrly face EOW's questioning in a Rs 60-crore cheating case.

The Bombay High Court refused to grant relief to actor Shilpa Shetty, who had sought cancellation of a lookout notice issued against her by the Economic Offences Wing (EOW) in connection with a ₹60-crore fraud case involving her husband, businessman Raj Kundra.

Shilpa Shetty told the court she had no connection with Raj Kundra’s company and was only a nominal director. However, the division bench of Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad rejected her plea, remarking, “If you want to go abroad, first become a government witness."

What Court Told Shilpa Shetty?

The court directed Shilpa Shetty to file a written affidavit by October 16.

“If you say you have no connection with the company, get your husband Raj Kundra to sign an affidavit to this effect," the bench said, adding that the couple should first deposit the entire ₹60 crore allegedly owed to the complainant.

“The fraud case is worth ₹60 crore- pay it first," the judges observed.

What Is The ₹60-Crore Fraud Case?

The case pertains to allegations that Raj Kundra and Shilpa Shetty, as directors of the now-defunct Best Deal TV Private Limited, duped businessman Deepak Kothari of nearly ₹60 crore in a loan-cum-investment deal between 2015 and 2023. Deepal Kothari has alleged that the couple induced him to invest in the company, which later diverted the funds for personal use.

During questioning by the EOW, Raj Kundra claimed that his company, which traded in household and electrical appliances, suffered heavy losses following demonetisation, rendering it unable to repay the borrowed funds. He has been questioned twice so far, while Shilpa Shetty was interrogated for over four hours at her residence on October 4.

The couple had filed a petition seeking suspension of the lookout circular to allow them to travel abroad for professional commitments and leisure trips. The court, however, said it could not permit such travel when the two were accused in a cheating case. The bench observed that while they have not been arrested due to their cooperation with the investigation, further relief would only be considered after the disputed amount is deposited.

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