Bollywood entrepreneur Raj Kundra, known for his ventures and his marriage to actress Shilpa Shetty, is once again in the news. He has released a new statement. This comes after fresh allegations of cheating have surfaced against him.
Mumbai businessman Deepak Kothari claims that Raj Kundra and Shilpa Shetty misused 60.4 crore rupees (around $7.2 million USD). Kothari says this money was taken under the guise of an investment. Following these serious accusations, Raj Kundra issued a detailed statement. He openly shared his side of the story and strongly denied all the claims against him.
Mr. Kundra’s lawyer explained that the money was an “equity investment,” not a loan. He pointed out that investments naturally come with risks. Any gains or losses belong to the shareholder. Raj Kundra emphasized that this business deal was public. All necessary information was available online when the investment happened in 2015.
The investment was made in a company called ‘Best Deal TV Private Limited’. This company started as a promising startup but shut down quickly. Raj Kundra said he feels unfairly targeted in this whole matter. He explained that a big reason for the company’s failure was the demonetization policy. This policy severely hurt their business model, which relied on cash-on-delivery. Raj Kundra claims he personally lost over 50 crore rupees (about $6 million USD) in this venture.
He also brought up Deepak Kothari’s son, Uday Kothari. Uday was a director in the company and attended all its meetings. Raj Kundra stated that both he and Shilpa Shetty invested 50 crore rupees into the company. This money was used for legal matters, paying back bank loans, and daily operations. He added that when the company was declared bankrupt and went under the NCLT (National Company Law Tribunal), Deepak Kothari did not raise any objections or make any claims at that time.
Raj Kundra noted that he has handed over all required documents to the Economic Offenses Wing (EOW), which is investigating the case. He added that the EOW has not found any issues with these documents so far. Raj Kundra believes his business life has always been transparent. However, for the past six years, he feels he has been a victim of false accusations. He suggests powerful people might be putting pressure on him.
He also mentioned that he has given jobs to more than 500 people. He insists he has always done business honestly. Raj Kundra shared his sadness, saying, “It pains me that I am repeatedly harassed in the country I call home.”
It’s important to remember that Mumbai Police had registered a case against Shilpa Shetty and Raj Kundra. This was based on the businessman’s complaint about being cheated out of 60.4 crore rupees. Raj Kundra’s latest statement, released through his lawyer, addresses this ongoing situation.