Bombay HC asks Shilpa Shetty, Raj Kundra to deposit Rs 60 crores for travel, and LOC relief

-

The Bombay High Court has directed actor Shilpa Shetty and her husband, businessman Raj Kundra, to deposit Rs 60 crore or provide a continuous bank guarantee from a nationalised bank before it will consider lifting a Lookout Circular (LOC) restricting their foreign travel. This order came during a hearing on their urgent plea to visit London for Kundra’s ailing father, who is undergoing serious medical treatment. The bench of Justices AS Gadkari and RR Bhonsale emphasised the need to demonstrate bona fides amid doubts about their return to India.

Bombay HC asks Shilpa Shetty, Raj Kundra to deposit Rs 60 crores for travel, and LOC relief

The LOC stems from a Rs 60.48 crore fraud complaint filed by Deepak Kothari, Director of UY Industries Pvt Ltd, alleging the couple induced him to invest in their now-defunct Best Deal TV Pvt Ltd between 2015 and 2023. Kothari claims the funds, provided as a loan with Shetty’s personal guarantee, were misused amid heavy business losses, with no recovery despite repeated demands. The Economic Offences Wing (EOW) of Mumbai Police is investigating, having issued the LOC to ensure the couple’s availability.​

Senior Advocate Abad Ponda, representing the couple, argued against depositing the full amount, suggesting surety or a reasonable alternative, and stressed the trip’s medical urgency with a firm return commitment. The bench rejected partial measures, insisting on the entire sum via deposit or bank guarantee, and scheduled further instructions for next week. The couple denies criminality, calling the case malicious and aimed at extortion by tarnishing their reputation.

Best Deal TV, launched in 2015 with endorsements from Shetty and ex-partner Akshay Kumar, collapsed after burning Rs 100 crore in 18 months, fuelling allegations of fund diversion to personal expenses or linked entities. No arrests have occurred, but prior pleas for quashing the FIR or LOC relief were denied without repayment. The case highlights rising scrutiny on celebrity-backed ventures post-demonetisation business failures.

Also Read: Shilpa Shetty, Raj Kundra move Bombay HC seeking travel permission amid father’s health crisis in London

The post Bombay HC asks Shilpa Shetty, Raj Kundra to deposit Rs 60 crores for travel, and LOC relief appeared first on Bollywood Hungama.



from Bollywood Hungama https://ift.tt/IBuhcCQ

Comments

Post a Comment

Popular posts from this blog

Manoj Bajpayee confirms The Family Man 3 will stream this October or November

-
Image
The question every fan of the Family Man franchise is asking: when is The Family Man 3 streaming? Manoj Bajpayee has now confirmed that the much-awaited third season of the massively popular Amazon Prime series will begin streaming in the last week of October or the first week of November. “The shooting is complete,” Bajpayee shared. “When we started, we had no idea The Family Man would go this far. Is it the most popular work I’ve done? I would say, most definitely, yes. Although I’ve done some other excellent series on OTT, like Abhishek Chaubey’s Killer Soup , the reach of The Family Man has gone beyond anything I’ve experienced.” The actor is confident that Season 3 will match — if not exceed — expectations. “All I can say at this moment is that those who loved Seasons 1 and 2 won’t be disappointed. If the highlight of Season 2 was Samantha, then Season 3 belongs to Jaideep Ahlawat. What a fine actor! I love working with actors who are as dedicated to getting it right as I a...
Read more

Vedang Raina on comparisons with Ahaan Panday, “There have been visual comparisons with many people as soon as I stepped into the industry”

-
Image
Vedang Raina has reacted on the comparisons with debutant Ahaan Panday, whose latest film Saiyaara has become a runaway success at the box office. He also spoke about his upcoming project with Imtiaz Ali. The internet is on fire with comparisons of you and the Saiyaara actor Ahaan Panday I haven’t gotten the chance to watch it yet, but I do want to watch it soon. Have heard great things. I think everyone has their own journey and there have been visual comparisons with many people as soon as I stepped into the industry. I’m very happy for this success, though. Makes me a believer. When do you start shooting for your film with Imtiaz Ali? I’m starting shoot for the project next month, but the major bulk of it will happen in October and November. It’s my only focus right now. My sole purpose is to do justice to my part and to the fact that I’m working with one of the great directors of our time. Have you signed anything else? I haven’t signed anything off...
Read more

Ivy Entertainment drags co-producer of Prabhas-starrer The Raja Saab to Delhi High Court over alleged contractual breaches: Report

-
Image
Delhi-based Ivy Entertainment, a subsidiary of Ivy Holdings, has filed a petition in the Delhi High Court against Hyderabad-based People Media Factory Pvt Ltd (PMF), the co-producers of the much-awaited Pan-India film,  The Raja Saab , as per an article in The Economic Times. The company is seeking a permanent injunction over what it claims are serious breaches of contractual obligations. In its plea, Ivy Entertainment alleged that PMF failed to fulfil several critical commitments, including completing and releasing the film within the agreed timeline, providing monthly production updates, disclosing how funds were being utilized, delivering agreed materials related to the film, and postponing the theatrical release multiple times without justification. The company claims that these breaches triggered termination clauses in the agreements, prompting it to demand a refund of Rs. 218 crores invested in the project, along with 18% annual interest. Ivy entered into a Film Rights Acq...
Read more