'I am deeply saddened': Shilpa Shetty slams 'baseless attempt' to associate her with ₹60-crore fraud case

Actor Shilpa Shetty said on Thursday, December 18, she was unfairly named in an alleged ₹60-crore fraud case and that she was "deeply saddened" over a "baseless attempt" to associate her with the case as the probe continues.

In a statement released by her team, Shetty was quoted by news agency ANI as saying that she was "deeply saddened" by what she described as a "baseless attempt" to associate her with the case.

What's the case against Shilpa Shetty?

The case pertains to a police complaint filed against Bollywood actor Shilpa Shetty and her husband Raj Kundra for allegedly duping a businessman of ₹60.4 crore.

It was alleged that the company, Best Deal TV, run by the Shetty-Kundra duo, had raised a loan, which was shown as an investment.

A complaint was registered against the couple by businessman Deepak Kothari, claiming that the actor and her husband had sought funds for their company, Best Deal TV Pvt Ltd, under the pretext of business expansion but misused the money for personal purposes.

Kothari claimed that the transactions took place between 2015 and 2023 and that attempts to recover the money failed.

‘I am deeply saddened’

Shilpa Shetty clarified that her association with the company was strictly in a non-executive capacity, with no involvement in its day-to-day functioning, finances, or decision-making.

Shetty reportedly said she has been unfairly implicated in the matter and maintained that her role with the relevant company was limited and non-operational.

"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," the statement read, as per ANI.

Her statement clarified, "...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."

Family 'loaned nearly ₹20 crore'

Shilpa Shetty alleged that her family had loaned a substantial amount to the company, adding that nearly ₹20 crore was extended as a loan and that the amount remains "unpaid."

"I want to put it on record that almost ₹20 crore has been loaned to the company by us as a family, and the said amount remains unpaid," she said.

"The mischievous attempt to impute criminal liability on me, particularly after an unexplained delay of nearly nine years, is legally unsustainable and contrary to settled principles of law," she added.

'Woman's dignity trampled upon'

Shilpa Shetty said, "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," the statement further read.

"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," the statement added.

Urging the media to report responsibly and verify facts before publishing, Shetty added, "I respectfully request the media to take note of these facts and report responsibly by verifying the truthfulness of facts."

Raj Kundra denies allegations

Shilpa Shetty's husband, Raj Kundra, also denied the allegations. Earlier, in a post on his X handle, Kundra termed the claims "baseless and motivated," stating that the issues were being given a criminal colour without any lawful basis.

“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," the tweet further read.

For those unaware, in August, a case was filed against Shilpa Shetty, her husband Raj Kundra, and another individual for allegedly cheating a businessman of over ₹60 crore.

The complaint, filed by businessman Deepak Kothari, director of Lotus Capital Financial Services Ltd, claims the incidents took place between 2015 and 2023. Kothari alleged that the couple took the money under the pretext of expanding their business but used it for personal expenses instead.

(With inputs from ANI)