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The Bombay High Court has denied permission to Shilpa Shetty and Raj Kundra for travel to Los Angeles, after a LOC (Lookout Circular) was issued against them. The court has asked the husband-wife duo to first deposit Rs 60 crore, if they wish to travel to the United States of America or any other country. While they were denied permission, the court also noted that they won’t pause the Lookout Circular issued against the couple.
The couple has also filed a plea to remove the LOC against them, which was issued due to the ongoing investigation for alleged money fraud of Rs 60 crore. As per LiveLaw, the Bombay high court has adjourned the matter until October 14, 2025.
For those unaware, Shilpa Shetty and Raj Kundra were booked by the Economic Offences Wing (EOW) of Mumbai. in connection with an alleged Rs 60.4 crore fraud involving their now-shut venture, Best Deal TV Pvt Ltd. An unidentified third person has also been named in the case.
According to officials, the complaint was initially lodged at Juhu police station under IPC provisions related to cheating and forgery. Since the alleged fraud amount exceeded Rs 10 crore, the matter was quickly transferred to the EOW. 60-year-old Deepak Kothari, a Juhu resident and director of Lotus Capital Financial Services, non-banking financial company, had filed the case. Kothari has alleged that Rajesh Arya had introduced him to Shetty and Kundra. Arya was then serving as directors of Best Deal TV, an e-commerce and home-shopping platform. At the time, the couple reportedly controlled over 87 percent of the company’s shares.
Kothari claims the accused initially sought a Rs 75 crore loan at a 12 percent annual interest rate. However, they later suggested that the funds be channelled as an “investment” instead of a loan, citing tax advantages. They allegedly assured him of proper monthly returns along with repayment of the principal. Acting on this assurance, Kothari says he invested Rs 31.9 crore in April 2015 under a share subscription agreement, followed by an additional Rs 28.53 crore in September 2015 through a supplementary agreement.
Shilpa’s lawyer had previously opened up about speculations of the actress receiving Rs 15 crore from husband Raj Kundra about 10 years ago. Putting the rumours to rest, he noted, “There are reports circulating in the print and electronic media that my client Mrs Shilpa Shetty Kundra had allegedly received an amount of Rs 15 crore from her husband Raj Kundra almost 10 years ago for a transaction which is allegedly investigated by Economic Offence Wing (Mumbai).”
He further added, “At the outset, we would like to state that, this piece of information is totally fake and mischievous intentionally planted in the public domain to defame my client. We shall go to the root of mischief and adopt the due process of law to file criminal proceedings and civil damages against all the news articles circulated mischievously to defame my client.”
Also Read: Lookout Circular Issued Against Shilpa Shetty and Raj Kundra Over Ongoing Investigations
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Filmfare
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