In a significant development, Mumbai Police is preparing to issue a Lookout Circular (LOC) against Bollywood actress Shilpa Shetty and her husband, Raj Kundra, in connection with a ₹60.4 crore fraud case. The couple is accused of defrauding businessman Deepak Kothari between 2015 and 2023 under the pretext of business expansion.
Kothari alleges that the funds were diverted for personal expenses instead of being used for the intended business purposes. As part of the investigation, the Economic Offences Wing (EOW) of the Mumbai Police has been closely examining the financial transactions of Shetty and Kundra.
The Lookout Circular is being prepared due to the couple’s frequent international travel, which could potentially hinder the investigation and enable them to evade questioning. As part of the ongoing probe, authorities are also reviewing their travel records.
In response to the allegations, both Shetty and Kundra have denied any wrongdoing. Their legal team has called the accusations “baseless” and “malicious,” asserting that all funds were properly invested in the business and that the necessary documents have been provided to the authorities.
The issuance of the LOC is seen as a crucial step to ensure the accused individuals remain available for questioning and that they do not leave the country to avoid the investigation.
