Raj Kundra has finally spoken out regarding the ₹60.4 crore cheating charges that have been making headlines in the last few weeks. In an interview with India Today recently, the businessman-actor denied the allegations and hoped that the truth would ultimately come out.
“Let’s just wait and see because that’s life for you,” Raj responded. “We have not spoken of it because we know we have not done anything wrong. The truth will emerge sooner or later. We’ve never done anything wrong in life, and we never will.”
Details of the ₹60.4 Crore Cheating Case
The scandal is based on a case instituted by Mumbai businessman Deepak Kothari, who accused Raj Kundra and his wife, Shilpa Shetty, of cheating him out of more than ₹60 crore. The case, now being probed by the Economic Offences Wing (EOW), revolves around a loan-cum-investment arrangement involving the defunct firm Best Deal TV Pvt Ltd, in which the couple are joint owners.
Kothari asserts that he invested the money during 2015 to 2023, as he thought it was for the growth of the business. But he accuses that the money has been misused in personal expenditures instead of business growth.
On August 2025, the EOW arrested Raj Kundra, Shilpa Shetty, and another unknown person under cheating and criminal breach of trust charges.
Legal Team Denies All Charges
Both Raj Kundra and Shilpa Shetty have refuted any wrongdoing via their legal advisor, Advocate Prashant Patil, who has termed the case as “baseless and malicious.” Patil noted that the transaction for which they were charged was civil in nature and had previously been decided by the National Company Law Tribunal (NCLT), Mumbai, in October 2024.
“This is a vintage transaction, where the company had slipped into financial trouble and ended up getting bogged down in a prolonged court case at the NCLT,” said Patil. “No criminality involved, and our auditors have filed all the papers, including cash flow statements in minute detail.”
Patil also said that the company is in liquidation, and all the evidence has been handed over to the authorities. He also said that Chartered Accountants of Kundra and Shetty have come to the police station more than 15 times with papers.
Couple to File Legal Action
The legal team of the couple is now going to take suitable legal action against those who are reportedly trying to defame them. In the meantime, the EOW probe is ongoing.
