Bollywood actor Shilpa Shetty has issued a strong denial and expressed deep distress over being named in an alleged financial fraud case amounting to ₹60.4 crore. On Thursday, December 18, the actor, through her team, stated she was unfairly implicated in a matter where she had no operational role.
'Deeply Saddened' By Baseless Allegations
In a statement released to the media via news agency ANI, Shilpa Shetty clarified her position. She described the attempt to link her to the case as "baseless" and said it was causing her profound sadness. The case stems from a police complaint filed against Shetty and her husband, businessman Raj Kundra, by a businessman who alleged he was duped of over ₹60 crore.
The complaint, filed by Deepak Kothari of Lotus Capital Financial Services Ltd, claims the incidents occurred between 2015 and 2023. It alleges that funds taken for business expansion were instead used for personal expenses by the accused.
Strictly Non-Executive Role, Says Shetty
Shilpa Shetty's core defense revolves around her limited involvement with the company in question, Best Deal TV. She asserted that her association was strictly in a non-executive capacity. This means she had no hand in the day-to-day operations, financial decisions, or any signing authority within the company.
"My association with the company was strictly in a non-executive capacity, with no role in its operations, finances, decision-making, or any signing authority," the statement read. She explained that, similar to other celebrities, she had only endorsed products for the home shopping channel professionally, and even payments for those endorsements are reportedly outstanding.
Family Loaned ₹20 Crore, Yet to Be Repaid
In a significant revelation, the actor stated that her family is actually a creditor to the company. She claimed that nearly ₹20 crore was extended as a loan by her family to Best Deal TV, and this substantial amount remains unpaid. This point is central to her argument that implicating her in fraud is illogical.
"I want to put it on record that almost ₹20 crore has been loaned to the company by us as a family, and the said amount remains unpaid," Shetty said. She questioned the timing of the allegations, noting an "unexplained delay of nearly nine years," and called the attempt to assign her criminal liability "legally unsustainable."
Defending Reputation and Dignity
The actor emphasized the personal toll of the allegations, particularly on her reputation as a woman in the public eye. She stated that her name continues to be dragged into proceedings unnecessarily, which she finds distressing and unjustified.
"Such unwarranted allegations not only misrepresent facts but also result in a woman's dignity, integrity, and reputation being unfairly trampled upon in the public domain," her statement added. She expressed complete faith in the judiciary, noting that a quashing petition is already pending before the Bombay High Court, and she will seek all legal remedies to protect her rights.
Raj Kundra Also Denies Charges
Shilpa Shetty's husband, Raj Kundra, has also categorically denied the allegations. In a post on his X (formerly Twitter) handle, he termed the claims "baseless and motivated." He echoed that a quashing petition is before the High Court and expressed confidence that justice will prevail.
Kundra urged the media to exercise restraint as the matter is sub judice. The case, initially filed in August, names Shilpa Shetty, Raj Kundra, and another individual for allegedly cheating businessman Deepak Kothari.
In her concluding remarks, Shilpa Shetty appealed for responsible journalism, requesting the media to verify facts before publishing reports that could harm an individual's reputation. The unfolding legal battle will now determine the course of this high-profile financial dispute.
