Mumbai Economic Offences Wing summons Raj Kundra in Rs 60 crore ‘cheating’ case   

Film actor Shilpa Shetty's husband and businessman Raj Kundra has been summoned by the Economic Offences Wing (EOW) of the Mumbai Police in connection with an alleged Rs 60 crore cheating case, an official said on Tuesday.

Kundra, accused of diverting a loan amount, has been asked to appear before EOW officials on September 15.

The EOW issued a Look-Out Circular (LOC) against Kundra and Shilpa Shetty last week, so that the couple, which makes frequent international trips, would be stopped from leaving the country. The agency has, however, summoned Kundra alone to record his statement, the official said.

A case was registered against the actor and her husband at Juhu police station on August 14 for allegedly duping businessman Deepak Kothari (60) of nearly Rs 60 crore in a loan-cum-investment deal, he said.

Kothari is a director of the Non-Banking Financial Company Lotus Capital Finance Services.

He came in contact with Kundra and Shetty through one Rajesh Arya, his complaint said.

Kundra and Shetty, who were directors of Best Deal TV Private Limited, a home shopping and online retail platform, sought a loan of Rs 75 crore from Kothari through Arya. The loan was to be shown as an investment to avoid taxation, Kothari claimed.

The couple promised him monthly returns and repayment of the principal, and Kothari transferred Rs 31.9 crore in April 2015 under a share subscription agreement, followed by another Rs 28.53 crore under a supplementary agreement in September 2015, the complaint said.

But Shetty, who had given a personal guarantee for the loan, resigned as a director in September 2016, and Kothari later discovered that insolvency proceedings were going on against their company for defaulting on another agreement.

He had provided the loan for business, but the couple diverted the funds for personal use, he alleged.

Probe is under way, the official said.