Shilpa Shetty, Raj Kundra ordered to deposit Rs 60 cr for travel, LOC relief by Bombay HC

MUMBAI: In order to consider lifting or suspending a Lookout Circular (LOC) restricting Shilpa Shetty and her businessman husband Raj Kundra from traveling abroad, the Bombay High Court has ordered the celebrity duo to deposit Rs 60 crore or provide a continuous bank guarantee from a nationalised bank

The order came during a hearing on the urgent plea filed by the celebrity couple to visit London to meet 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.

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 be deposited 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.