Fri Sep 05 09:43:29 UTC 2025: Okay, here’s a summarized version of the text, rewritten as a news article:

**Headline: Lookout Notice Issued for Shilpa Shetty and Raj Kundra in Rs 60 Crore Fraud Case**

**Mumbai, India** – Bollywood actress Shilpa Shetty and her husband, businessman Raj Kundra, are facing legal trouble after a Mumbai-based businessman, Deepak Kothari, accused them of fraud amounting to Rs 60.40 crore related to their now-defunct teleshopping channel, Best Deal TV. Mumbai Police has issued a lookout notice against the couple.

Kothari alleges that between 2015 and 2023, Shetty and Kundra took Rs 60.40 crore from him under the pretext of expanding their celebrity-based teleshopping venture but instead used the funds for personal expenses and misrepresented a loan as an investment for tax benefits. Kothari claims he was promised a 12% annual interest rate and provided with a personal guarantee from Shetty, who later resigned as a director.

Best Deal TV, launched in 2015, was envisioned as a platform where celebrities would endorse and co-own brands, partnering with figures like Akshay Kumar and Sonakshi Sinha. Kumar, who was once in a relationship with Shetty, joined the venture along with his then partners Raj and Shilpa. Kumar explained he wanted celebrities to stop running behind brands but build and endorse their own. It aimed to sell lifestyle, health, fashion, and beauty products, primarily targeting housewives and middle- to upper-class homes.

However, the channel faced financial difficulties and temporarily suspended operations in December 2016, partly attributed to the demonetization. Raj Kundra resigned as CEO around the same time. An Economic Times report says Shetty and Kundra owned 63% stake in the company, while Akshay Kumar was given 8% for his endorsement of Best Deal TV. Deepak Kothari, managing director of UY Industries invested Rs 60 crore in Best Deal TV to own about 26%.

A lawyer representing Shetty and Kundra has denied the allegations, calling the case “baseless and malicious” and claiming it’s an attempt to malign their clients. However, Mumbai Police is proceeding with its investigation, leading to the lookout notice.

The case has brought renewed attention to the once-promising Best Deal TV venture and the surprising business partnership it forged between former couple Akshay Kumar and Shilpa Shetty, years after their highly publicized and acrimonious breakup.

Read More