Demonetisation, Losses, Denial: Shilpa Shetty and Raj Kundra’s Statements to EOW in Loan Fraud Case

The investigation into the alleged ₹60 crore loan fraud involving actor Shilpa Shetty.

And her husband Raj Kundra has taken a deeper turn, with Mumbai Police’s Economic Offences Wing (EOW) recording new statements from the couple as part of the ongoing probe.

Officials said Raj Kundra told investigators that his company, which operated in the electrical and home appliances sector, suffered heavy financial losses following demonetisation. He claimed these losses led to the collapse of business operations and insisted that there was no deliberate wrongdoing or fraudulent intent on his part.

The EOW has already questioned Kundra twice and may call him again in the coming weeks to track the flow of funds and verify statements made by both him and Shilpa Shetty. The couple stands accused of defrauding businessman Deepak Kothari of around ₹60 crore through a loan-cum-investment scheme connected to their now-defunct company, Best Deal TV Pvt Ltd.