MAJOR trouble for Shilpa Shetty! Income Tax raid at actor’s residence due to…, here’s what we know

In a major development, income tax officials on Wednesday conducted a raid at Bollywood actress Shilpa Shetty’s residence in Mumbai in connection with a Rs 60-crore scam-related case. According to reports, the IT department is investigating the business dealings of Shilpa Shetty and her husband Raj Kundra, while searches are on at establishments they own or run in Mumbai, Bengaluru and Pune.

IT raids on Shilpa Shetty’s house in Mumbai?

Bastian Hospitality, the company behind Bastian-branded clubs in these cities, is reportedly in focus amid allegations of financial irregularities and tax evasion. This comes after the Bengaluru police registered a case against two bars, including Bastian Garden City, co-owned by Shilpa Shetty, for allegedly operating beyond permitted hours. The police action follows viral CCTV footage showing a late-night incident at the Bastian Pub on December 11, in which two groups of patrons argued but no physical violence was reported. 50% shares of Bastian Pub, founded by Ranjit Bindra, belong to Shetty since 2019. The Sourberry Pub on Residency Road was also fined for similar violations.

About Shilpa Shetty’s alleged Rs 60 crore case

In August, a case was filed against Shilpa Shetty, her husband Raj Kundra and another person for allegedly cheating a businessman of more than Rs 60 billion. The complaint, filed by businessman Deepak Kothari, director of Lotus Capital Financial Services Ltd, alleges that the incidents occurred between 2015 and 2023. Kothari claimed that the couple took the money on the pretext of expanding their business but instead used it for personal expenses. According to Kothari, in 2015, Shetty and Kundra approached him through a mediator seeking to get a loan of Rs 75 crore for their company Best Deal TV Pvt Ltd, which promotes lifestyle products and operates an online shopping platform. The proposed interest rate was 12 percent. They then reportedly asked him to provide the funds as an “investment” rather than a loan, guaranteeing monthly returns and principal repayment.

Kothari claimed that he transferred Rs 31.95 Million under a share subscription agreement in April 2015 and another Rs 28.53 Million in September 2015 under an additional agreement. The total amount was transferred to Best Deal TV’s bank accounts. Repeated attempts to recover the funds allegedly failed, and Kothari accused the couple of “dishonestly using” the money for personal gain. Shilpa and Raj’s lawyer Prashant Patil denied the allegations and stated that they would present the “truth” to the investigating agencies.