The Bombay High Court has directed actor Shilpa Shetty and her husband, businessman Raj Kundra, to deposit Rs 60 crore or provide a continuous bank guarantee from a nationalised bank before it is going to consider lifting a Lookout Circular (LOC) restricting their foreign travel. This order got here during a hearing on their urgent plea to go to London for Kundra’s ailing father, who’s undergoing serious medical treatment. The bench of Justices AS Gadkari and RR Bhonsale emphasised the necessity to show bona fides amid doubts about their return to India.
Bombay HC asks Shilpa Shetty, Raj Kundra to deposit Rs 60 crores for travel, and LOC relief
The LOC stems from a Rs 60.48 crore fraud grievance filed by Deepak Kothari, Director of UY Industries Pvt Ltd, alleging the couple induced him to speculate of their now-defunct Best Deal TV Pvt Ltd between 2015 and 2023. Kothari claims the funds, provided as a loan with Shetty’s personal guarantee, were misused amid heavy business losses, with no recovery despite repeated demands. The Economic Offences Wing (EOW) of Mumbai Police is investigating, having issued the LOC to make sure the couple’s availability.
Senior Advocate Abad Ponda, representing the couple, argued against depositing the total amount, suggesting surety or an affordable alternative, and stressed the trip’s medical urgency with a firm return commitment. The bench rejected partial measures, insisting on all the sum via deposit or bank guarantee, and scheduled further instructions for next week. The couple denies criminality, calling the case malicious and geared toward extortion by tarnishing their popularity.
Best Deal TV, launched in 2015 with endorsements from Shetty and ex-partner Akshay Kumar, collapsed after burning Rs 100 crore in 18 months, fuelling allegations of fund diversion to private expenses or linked entities. No arrests have occurred, but prior pleas for quashing the FIR or LOC relief were denied without repayment. The case highlights rising scrutiny on celebrity-backed ventures post-demonetisation business failures.
Also Read: Shilpa Shetty, Raj Kundra move Bombay HC looking for travel permission amid father’s health crisis in London
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