Lagatar24 Desk
Mumbai: The Mumbai Police’s Economic Offences Wing (EOW) has issued a Lookout Circular (LOC) against Bollywood actor Shilpa Shetty and her husband, businessman Raj Kundra, in connection with an alleged cheating case worth ₹60 crore. Officials said the step was taken as the couple frequently travels abroad.
Case Transferred to EOW
The case was first registered at Juhu police station on August 14 following a complaint filed by Deepak Kothari, a 60-year-old Juhu resident and director of Lotus Capital Financial Services, an NBFC. He alleged that he was duped of nearly ₹60 crore in a loan-cum-investment deal. Since the fraud amount exceeded ₹10 crore, the case was transferred to the EOW.
Allegations in the Complaint
According to the complaint, Kothari was introduced to Raj Kundra and Shilpa Shetty by Rajesh Arya. At that time, the couple were directors of Best Deal TV Pvt Ltd, a home shopping and online retail platform, in which they reportedly held 87.6% shares. Kothari alleged that his funds were siphoned off in the name of business investments.
Legal Standpoint
While the police continue their probe, the couple’s lawyer has termed the case “purely civil” and denied any criminal intent, insisting that there was no wrongdoing on their part.
What is a Lookout Circular?
An LOC is a preventive tool used by investigative agencies to restrict individuals from leaving the country or to monitor their movements through immigration and border authorities.
