Mumbai court orders investigation into Shilpa, Raj Kundra fraud allegations
Bollywood actor Shilpa Shetty Kundra and her husband, businessman Raj Kundra, are under legal scrutiny once more. The Mumbai Sessions Court has ordered a police investigation into fraud allegations against the couple. This follows a complaint lodged by gold dealer Prithviraj Saremal Kothari. The court has deemed the case to constitute a prima facie cognizable offense and directed the Bandra Kurla Complex (BKC) Police to investigate these claims.
Alleged fraudulent scheme by the couple's company
The couple, founders of Satyug Gold Private Limited, is accused of initiating a fraudulent scheme in 2014. As per Kothari's lawyers, the scheme required investors to pay fully for gold at a discounted rate upfront. The company promised to deliver a fixed amount of gold on the maturity date, irrespective of market price.
FIR will be registered if any wrongdoing found: Court
Kothari claims he invested ₹90L in the scheme, assured by both Shetty Kundra and Kundra that he would receive 5000gm of 24-carat gold after five years (April 2, 2019). However, he alleges that upon completion of the term, he didn't receive any gold. "Just by reading about such a scheme it'll be clear that the gold will be given to the concerned director, no matter what the price is in the market at that time," stated one of Kothari's lawyers.
Potential legal consequences for the pair
The court stated that if any cognizable offense is found during the investigation, an FIR should be registered under all necessary sections of the IPC. If an FIR is registered, a thorough investigation against Shetty Kundra and Kundra would then be conducted. Finally, if the allegations are proven correct after investigation, necessary action can be taken against both individuals. This is not their first encounter with legal controversy, as they have been associated with several other disputes in the past.
