Raj Kundra breaks silence on Bombay HC's travel restriction, says 'No Rs 60 crore deposit ordered'

In the wake of the ongoing fraud case concerning actor Shilpa Shetty Kundra's husband, Raj Kundra, conflicting reports have emerged regarding travel restrictions. Initial reports indicated that the Bombay High Court had mandated that Shilpa Shetty and Raj Kundra deposit Rs 60 crore before traveling to Los Angeles or any other international destination. However, Raj Kundra has since refuted these claims, clarifying to HT City that the court has not issued any such directive requiring a deposit for their travel plans.

Raj Kundra breaks silence

He said, The court has not directed me to deposit any amount, as incorrectly stated. It has merely sought details regarding the purpose of travel along with the formal correspondence to be submitted on the next hearing date, October 14.

Raj Kundra voiced his frustration over what he described as "repeated misrepresentations" made by the claimant in the ongoing case. I have had enough of the claimant’s repeated misrepresentations, and action is being taken against the claimant as we speak. Many facts will come to light in the coming days. I urge the media to verify facts before publishing misleading information.

Court’s recent action

The couple's recent action involves a plea to the high court, aiming to overturn the Look Out Circular (LOC) issued against them. This LOC is linked to an FIR concerning an alleged ?60 crore fraud. The high court has scheduled the next hearing for October 14.

The Economic Offences Wing (EOW) of Mumbai Police is investigating a case stemming from a complaint by Deepak Kothari, a director of Lotus Capital Financial Services. Kothari alleges that Shilpa Shetty and Raj Kundra misused funds provided to them for business growth, using the money for personal expenses between 2015 and 2023. Kothari had invested a total of ?60.48 crore through two agreements in 2015. He later discovered insolvency proceedings against the company, which allegedly cheated another investor.

Allegations on Raj Kundra

Deepak Kothari accused the couple of "dishonestly using" the funds for their personal benefit and failing to repay the amount. Following an investigation, the EOW determined that Kothari's funds were misused and filed a case against Shilpa, Raj, and an unidentified associate under relevant sections of the Indian Penal Code.