Criminal liability after 9 years is not sustainable: Shilpa Shetty on fraud case
Shilpa Shetty has denied allegations of fraud in the Rs 60 crore fraud case, saying her role was non-executive. He also revealed that a family loan of Rs 20 crore is still unpaid and confirmed legal action in the Bombay High Court.
Actress Shilpa Shetty issued an official statement on Friday after being accused of cheating. Case of fraud of Rs 60 crore The transactions are linked to the couple’s now defunct company, Best Deal TV Pvt. Ltd. In his detailed response, the 50-year-old actor quoted a verse from the Bhagavad Geeta and said that his family had given a loan of Rs 20 crore to the company, which has not been repaid yet.
He also pointed out that the company has not paid him his dues for promoting its products in a professional capacity. This clarification comes as Shetty is separately facing a Police case related to his restaurantBastian.
His full statement:
“I am deeply saddened by the baseless attempt to link my name to this matter. My association with the company was entirely in a non-executive capacity, with no role in its operations, finances, decision making or any signing authority. In fact, like many other public figures, I had endorsed certain products for the Home Shopping Channel in a professional capacity, for which I am owed payment.
I would like to place on record that we as a family have given a loan of approximately Rs 20 crores to the company and the said amount has not been paid.
The mischievous attempt to impose criminal liability on me, especially after an unexplained delay of nearly nine years, is legally untenable and contrary to the established principles of law.
Despite these facts, my name is being unnecessarily dragged into the proceedings, which is both disturbing and unfair. Such unjustified allegations not only misrepresent the facts but also unfairly trample on the dignity, integrity and reputation of a woman in the public sphere.
As quoted in the Bhagavad Gita, “Failing to oppose injustice when it is your duty is adharma.” With the cancellation petition already filed before the Honorable Bombay High Court, I have full confidence in the judicial process and will seek appropriate legal remedies to protect my rights and reputation.
I respectfully request the media to pay attention to these facts and report responsibly after checking the veracity of the facts.
A case was registered against Shetty and Kundra at Juhu police station on August 14 this year, alleging that they defrauded a businessman of around Rs 60 crore in a loan-cum-investment deal. Mumbai-based businessman Deepak Kothari accused Shilpa and her husband Raj Kundra of diverting funds meant for business expansion between 2015 and 2023 for personal use. Kothari, director of Lotus Capital Financial Services, said he was introduced to the couple by Rajesh Arya. At the time, the pair controlled 87.6 percent of Best Deal TV’s shares.
Shetty resigned as director of the firm in September 2016. As of 2017, bankruptcy proceedings were initiated against Best Deal TV for defaulting on another agreement. Earlier this year, Prithviraj Kothari, managing director of Riddhi Siddhi Bullions, had accused the couple of defrauding an investor in a gold scheme.
Kundra, who was arrested by Mumbai Police in an adult content case in 2021 and later granted bail, is also facing a separate money laundering probe linked to the Bitcoin fraud.