Overview

• Raj Kundra told Mumbai Police’s Economic Offences Wing that Best Deal TV’s cash-on-delivery model collapsed after the 2016 demonetisation, which he says left him unable to repay.
• EOW teams recorded extended statements from Kundra and Shilpa Shetty, including a roughly four-hour session at their residence last week, and further questioning may follow.
• A complaint by Deepak Kothari led to an FIR alleging the couple obtained about Rs 60.4 crore, largely through 2015 investment tranches, and diverted the funds for personal use.
• The Bombay High Court refused leisure travel and said it will consider suspending the Look-Out Circular only after the disputed amount is deposited, with the next hearing on October 14.
• Investigators are verifying bank transactions and claimed spends such as advertising and celebrity endorsements, the LOC remains in force, and no arrests have been made.