Bollywood actress Shilpa Shetty was questioned by the Economic Offences Wing (EOW) of the Mumbai police for more than four hours in connection with the ongoing probe into an alleged Rs 60 crore fraud case.
As part of the investigations into a complaint filed by businessman Deepak Kothari, the EoW officials visited Shilpa’s residence on Saturday and recorded her statement on the alleged transactions that took place in the bank account of her company, the now-defunct Best Deal TV Pvt Ltd.
Earlier last month, the EoW officials had grilled five others, including her controversial husband Raj Kundra, in the same case.
The two developments came a month after the Mumbai Police issued a Look Out Circular (LoC) against the celebrity couple, who were reportedly not traceable for investigations in the case.
During the questioning, Shilpa is understood to have given to the police information, her bank statements and other documents pertaining to the alleged transactions that took place in the bank account of her company, the now-defunct Best Deal TV Pvt Ltd.
Informed EOW sources said that the investigating officials would examine the critical documents collected from the actress to trace and verify the purposes and flow of funds in the alleged fraud, and if any portion was routed for the couple’s private uses instead of business projects as earlier committed.
It may be recalled that Kothari, a Director of Lotus Capital Financial Services, had alleged that way back in 2015, the couple had sought a loan of Rs 75 crore at 12 percent annual interest from his company, but later persuaded him to restructure the deal as an “investment” to save on taxes.
Accordingly, Kothari transferred Rs 31.95 crore in April 2015 and another Rs 28.53 crore in September 2015 to the company’s HDFC Bank accounts, hoping for attractive monthly returns plus repayment of the principal amounts. The matter took a turn when Shilpa resigned as director of Best Deal TV in 2016, and the company faced insolvency proceedings for defaulting on other loans.
On his part, Kothari has alleged that the funds he provided were purportedly diverted for Shilpa-Kundra’s personal uses between 2015- 2023. The EOW is now tracking the financial trails from the company’s accounts to multiple entities and individuals.
The investigations have revealed that Kundra allegedly transferred around Rs 15 crore from the loan amount into Shilpa’s company account. It has now come to light that around four other actresses and a television production house were also alleged ‘beneficiaries’ in the case.
During his questioning last month, Kundra reportedly told the investigators that a portion of the disputed amounts was paid to the actresses Bipasha Basu and Neha Dhupia as fees as their professional fees. He, however, chose to remain silent on some other crucial financial links, for which he is likely to be questioned again in the coming days.
Last week, the Bombay High Court denied permission to actress Shilpa and her husband Kundra, to travel to Phuket in Thailand for a three-day family vacation, citing the ongoing EOW probe and the LoC.
A HC bench of chief Justice Shree Chandrashekhar and Justice Gautam Ankhad also refused to pause the lookout circular issued by the EOW of the Mumbai Police.
Fifty-year-old Kundra, a British-Indian entrepreneur has been involved in controversies over the years. He was banned for life from cricket activities after the 2013 IPL betting scandal involving the Rajasthan Royals which he co-owned.
Kundra was arrested and charge-sheeted in the Covid-19 lockdown period 2021 in connection with a case involving the creation of pornographic films/content and publishing them through some Apps. He was released on bail after two months.
In November last year, the Enforcement Directorate on Friday carried out massive searches in more than a dozen locations for alleged money laundering linked to the alleged pornography case.