Shilpa Shetty denies allegations as 'baseless', moves court to quash charges in Rs600 million fraud case

Dubai: Minutes after reports emerged that actor Shilpa Shetty and her husband Raj Kundra had been charged in a Rs 600 million (Rs 60 crore) fraud case, the actress issued a strong denial, calling the allegations “baseless and motivated.”

Taking to her Instagram Stories, Shetty said the issues being raised were being “given a criminal colour without any lawful basis.” Her statement came soon after news broke that Mumbai Police’s Economic Offences Wing (EOW) had added cheating charges in a case linked to an alleged loan-cum-investment deal involving a businessman.

“We categorically deny the baseless and motivated allegations being circulated,” Shetty wrote. “The issues sought to be raised are being given a criminal colour without any lawful basis.”

Providing legal context, the actress said the couple had already moved the court. “The process of quashing the petition has already been filed before the Hon’ble High Court and is pending adjudication,” she added.

Shetty also emphasised that they have cooperated fully with investigators and expressed confidence in the legal process. “Having fully cooperated with the investigation, we are sanguine that justice will prevail and have complete faith in the law-enforcement authorities and the judicial system of our country,” the statement said.

Urging restraint, she concluded by appealing to the media to be cautious in its coverage, noting that the matter is sub judice.

The statement comes amid heightened scrutiny following the registration of an FIR against Kundra and Shetty, who were directors of the now-defunct Best Deal TV Private Limited. The complainant has alleged that he was induced to invest nearly Rs 60 crore between 2015 and 2023, with the funds allegedly misused for personal expenses—claims the couple have denied.