Shilpa Shetty responds to allegations in Rs 60 crore fraud case: 'Such unwarranted allegations not only...'

Shilpa Shetty and Raj Kundra have been in the headlines for all the wrong reasons ever since a report of Rs 60 crore allegations had emerged. The Bollywood actress and businessman Raj Kundra later had to move to Bombay High Court, requesting the suspension of the Look Out Circular (LOC), which was issued against them. Amid their investigation, Shilpa Shetty has now responded to this as fresh charges have been levied against the couple.

What did Shilpa Shetty say in a statement over new allegations?

According to reports, Shilpa Shetty issued a statement followed by the fresh allegations levied against her and Raj. Reportedly, she has stated, "I am deeply saddened by the baseless attempt to link my name to this matter. My association with the company was strictly in a non-executive capacity, with no role in its operations, finances, decision-making, or any signing authority. In fact, like several other public figures, I had endorsed certain products for the home shopping channel in a professional capacity, for which payments due to me remain outstanding."

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She further stated, "I want to put it on record that almost Rs 20 crore has been loaned to the company by us, a family, and the said amount remains unpaid. The mischievous attempt to impute criminal liability on me, particularly after an unexplained delay of nine years, is legally unsustainable and contrary to settled principles of law."

Shilpa Shetty concluded the statement, “Despite these facts, my name continues to be unnecessarily dragged into the proceedings, which is both distressing and unjustified. Such unwarranted allegations not only misrepresent facts but also result in a woman's dignity, integrity and reputation being unfairly trampled upon in the public domain. With a quashing petition already filed before the Honourable Bombay High Court. I have complete faith in the judicial process and will be seeking appropriate legal remedies to protect my rights and reputation. I respectfully request the media to take notes of these facts and report responsibly by verifying the truthfulness of facts.”

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Earlier, Raj Kundra had denied all the allegations. He took to X to deny the charges and wrote, “We categorically deny the baseless and motivated allegations being circulated. The issues sought to be raised are being given a criminal colour without any lawful basis. A quashing petition has already been filed before the Hon’ble High Court and is pending adjudication. Having fully cooperated with the investigation, we are sanguine that justice will prevail and have complete faith in the law enforcement authorities and the Indian judiciary. We respectfully urge the media to exercise restraint as the matter is sub judice.”

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All about the Shilpa Shetty-Raj Kundra's Rs 60 crore fraud case

Reportedly, businessman Deepak Kothari has alleged that the couple had taken Rs 60 crore between 2015 and 2023 under the pretext of expanding their business. But as per the accusation, the couple had used it for their personal expenses. Reportedly, Shilpa and Raj had allegedly presented the amount as an investment for tax-saving purposes but actually took it as a loan. For the unversed, the case was registered against the couple at the Juhu Police Station on August 14.

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Although the couple had denied the allegations through their lawyer, advocate Prashant Patil, who says that the case is civil and not criminal. According to Patil, the transaction concerned had already been adjudicated by the National Company Law Tribunal (NCLT) on October 4, 2024, and their auditors have presented cash-flow statements and documents to investigators on multiple occasions.