The Bombay High Court mandated the couple deposit the full alleged fraud amount or provide a bank guarantee to lift the LOC and allow their trip to London.
December 11, 2025: In a major development in the ongoing ₹60 crore fraud case, the Bombay High Court has set a stringent condition for actress Shilpa Shetty and her businessman husband Raj Kundra to lift the Look Out Circular (LOC) issued against them. The couple has been directed to deposit the full alleged fraud amount of ₹60 crore or provide a continuous bank guarantee from a nationalized bank.
The court’s directive came after the couple sought a temporary suspension of the LOC to travel to London to attend to Kundra’s ailing father.
Full Deposit Mandated Despite Plea
The couple, through their Senior Advocate Abad Ponda, had sought permission to travel to London by January 20, 2026, citing the medical urgency of Kundra’s father, who is suffering from a chronic and deteriorating iron-ammonia deficiency.
Ponda argued that requiring the full deposit was excessive and suggested providing a surety or a more reasonable alternative. However, the bench remained firm, rejecting any partial measures and insisting on the full amount via deposit or continuous bank guarantee to secure the lifting of the LOC.
The Fraud Case Details
Shilpa Shetty and Raj Kundra were booked by the Economic Offences Wing (EOW) earlier this year following a complaint filed by Mumbai-based businessman Deepak Kothari.
- Allegation: Kothari alleged that the couple defrauded him of ₹60.4 crore in connection with a loan-cum-investment deal involving their now-defunct company, Best Deal TV Pvt Ltd.
- Misuse of Funds: The complainant claims he invested the money between 2015 and 2023 under the pretext of business expansion, but the funds were allegedly misused for the couple’s personal expenses.
- Denial: Shilpa Shetty and Raj Kundra’s lawyer, Prashant Patil, has vehemently denied the allegations, calling the case “baseless and malicious” and asserting that the dispute is purely civil in nature, previously adjudicated by the NCLT Mumbai.
The Bombay High Court has made it clear that despite the medical urgency cited, the couple must meet the full financial requirement to secure temporary travel permission.