Bollywood actor Shilpa Shetty and her husband, businessman Raj Kundra, today said they had not “committed any offence” as they responded to allegations of cheating a prominent Mumbai trader. In an official statement, their advocate, Prashant Patil, said the couple would fight legally and cooperate with investigation agencies.
According to a complaint by bullion trader Prithviraj Saremal Kothari, Shilpa Shetty and Raj Kundra, along with associates, orchestrated a scheme under their company, enticing investors with the promise of lucrative returns on gold investments.
The scheme, named "Satyug Gold," allegedly assured investors of gold delivery at a fixed rate, regardless of market fluctuations.
Mr Kothari's complaint has prompted the Mumbai Sessions Court to order a thorough investigation into the allegations.
“The complainant had a moved a criminal complaint against my clients Raj Kundra and Shilpa Shetty in 2022. This complaint was thoroughly investigated by the police in 2022 by adopting the due process of law. After thorough investigation it was found that the complainant had in fact received the entire alleged amount of Rs 90 lakhs through legitimate means of payment,” Shilpa Shetty and Raj Kundra's advocate said.
“My clients bonafidely submitted these documents to the police department. After finding out the truth of the matter , the police delivered justice to my clients. Post this enquiry, the complainant opted to file a private complaint under sec 156(3) CrPC before the Honourable Court. After a passage of almost two years, the Honourable Court has directed the police to investigate the case again,” he said.
The lawyer also said the couple has “complete faith in the independence and fairness of the investigation” and that the “truth shall prevail”.
“My clients have not committed any offence and it has been established through documents in possession of my clients. The invoice between the Complainant and my clients clearly reflect that there is an Arbitration clause in the said contract. If the complainant has any grievance about the alleged “interest amount “ the clause of Arbitration can certainly be invoked,” he said.
“My clients shall fight this battle legally and shall cooperate with the investigation agencies. My clients reserve their right to sue the complainant for malicious proceedings at the right stage of the proceedings,” the statement read.
Trader Accuses Shilpa Shetty, Raj Kundra Of Cheating In Gold Scheme
In his complaint, Prithviraj Saremal Kothari alleged that Shilpa Shetty and Raj Kundra had launched a gold scheme in 2014 under which anyone wanting to invest would be required to make a complete payment of gold at a discounted rate upfront at the time of applying for the scheme. Later, an agreed quantity of gold would be delivered on the maturity date.
Based on the representation made by the accused persons, the complainant invested Rs 90,38,600 under a 5-year plan on the assurance that 5,000 grams of 24-carat gold would be delivered on April 2, 2019, the petition said. However, the promised amount of gold was never delivered, Mr Kothari alleged.
The scheme, as described by Mr Kothari, appeared to offer a secure investment opportunity, buoyed by the reputation of Shilpa Shetty and Raj Kundra in the entertainment and business spheres, respectively.