When Shilpa Shetty and Raj Kundra leave India, Bombay HC gives them their first deposit of ₹60 crore

Actor Shilpa Shetty and her husband Raj Kundra were ordered by the Bombay High Court on Wednesday to pay ₹60 crore in advance if they intend to go to Los Angeles, California, or any other foreign country. The court denied them permission to travel and declined to halt the Look Out Circular (LOC) that was issued against them. This follows the couple's high court request to have the LOC against them in connection with a FIR regarding an alleged ₹60 crore scam quashed. The case has been postponed by the top court until October 14.

The Mumbai Police's Economic Offences Wing (EOW) is looking into the matter, which stems from a complaint made by Deepak Kothari, a 60-year-old Mumbai businessman and director of Lotus Capital Financial Services. According to Kothari's lawsuit, Shetty and Kundra utilized the funds he provided them to expand their firm and pay for their personal costs between 2015 and 2023. He claimed that in 2015, Shetty and Kundra came to him via a middleman seeking a ₹75 crore loan for Best Deal TV Pvt Ltd, a business that operated an online marketplace and marketed lifestyle goods.

Twelve percent was the agreed-upon interest rate. They allegedly thereafter requested that he use the sum as a "investment" rather than a loan, promising him principal repayment and monthly dividends. In April 2015, Kothari said, he sent ₹31.95 crore under a share subscription arrangement, and in September 2015, he transferred another ₹28.53 crore under a supplementary agreement. Best Deal TV's bank accounts were credited with the full sum.