Businessman Raj Kundra, husband of actress Shilpa Shetty, faced intense questioning for over five hours on Monday by the Economic Offences Wing (EOW) of the Mumbai Police in connection with an alleged ₹60 crore fraud case. The investigation stems from a complaint filed by Deepak Kothari, a director at Lotus Capital Finance Services, who alleges that he was defrauded of ₹60.4 crore through a loan-cum-investment agreement involving Best Deal TV Pvt Ltd, a now-defunct company owned by Kundra and Shetty.

To avoid media attention, the EOW recorded Kundra's statement at a confidential location. According to officials, Kundra is likely to be summoned again next week as the investigation progresses and more witnesses are examined. While Kundra has been questioned, no summons has been issued to Shilpa Shetty, who is also named as a co-accused, as the EOW continues to gather evidence.

The case was registered at the Juhu police station on August 14, following Kothari's complaint. He alleges that between 2015 and 2023, he invested funds to help expand Best Deal TV, but the money was allegedly used for personal expenses by the couple. The EOW is currently investigating the matter, with authorities having issued Lookout Circulars (LOCs) against both Kundra and Shetty to prevent them from leaving the country.

During the interrogation, Kundra's bank statements were scrutinized. Preliminary investigations have revealed that significant funds were transferred from Kundra's company to various Bollywood celebrities, labeled as fees and other charges. Kundra reportedly told the police that these payments were legitimate expenses or fees. The EOW is examining the financial records to verify these claims. Payments to five companies – Satyug Gold, Vihaan Industries, Essential Bulk Commodities Pvt Ltd, Best Deal, and Statement Media – are also under investigation. Kundra stated that approximately ₹20 crore was disbursed as broadcasting fees, ₹3 crore for warehouse rent, along with celebrity fees. Furthermore, the police are investigating why Shilpa Shetty, despite being a director, allegedly received celebrity fees from the same firm.

Kundra and Shetty have denied the allegations, with their lawyer, Prashant Patil, describing the claims as baseless and malicious. Patil stated that the matter is a civil dispute that has already been addressed by the National Company Law Tribunal (NCLT). He explained that the company went into financial distress and became entangled in a long legal battle at the NCLT, and that there was no criminality involved. According to Patil, all necessary supporting documents, including detailed cash flow statements, have been submitted to the EOW. He emphasized that the investment agreement was purely an equity investment and that the company has received a liquidation order, which has been presented to the police.