Raj Kundra Grilled for Five Hours by Mumbai Police Economic Offences as Rs. 60 Crore Fraud Probe Deepens

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In the alleged Rs. 60 crore fraud case, the Mumbai Police Economic Offences Wing (EOW) grilled businessman Raj Kundra for five hours. The investigation also focuses on actress Shilpa Shetty, who is expected to be summoned soon. Authorities are reviewing payments linked to five companies—Satyug Gold, Vihaan Industries, Essential Bulk Commodities Pvt Ltd, Best Deal, and Statement Media—to trace how funds were routed. Officials confirmed that Kundra’s preliminary statement was recorded under DCP Nimit Goyal’s supervision.

Probe Focuses on Payments and Records

Investigators said preliminary checks revealed that approximately Rs. 20 crore was paid as broadcasting fees and another Rs. 3 crore for warehouse rent. Funds also went to Bollywood celebrities under ‘celebrity fees.’ A senior officer stated, “We are probing why Shilpa Shetty, despite being a director, allegedly received celebrity fees from the same company.” The Satyug Gold fraud investigation has also flagged irregularities in equity shares allotted to the complainant without proper valuation.

Authorities have requested promotional videos featuring the celebrities for verification, but were informed that these were seized earlier in a case related to pornographic content involving Kundra. 

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The EOW plans to seek clarification from the Crime Branch about the material. Due to the couple's frequent international travel, a Raj Kundra lookout circular was issued on September 6. Officials confirm they might have to summon Raj Kundra again next week for a complete, detailed follow-up statement.

Analysis: High-Profile Case Under Close Watch

In the ongoing fraud case against Raj Kundra, the allegations of financial mismanagement opened the floodgates for more exhaustive investigations in the entertainment industry in India. This case also considers the compliance practice in Best Deal and Statement Media entities, where celebrity involvement sits at the electoral intersection with corporate finance. 

Investigators then seemed interested in the timing and intent of transactions for Heena Shetty, who resigned from directorship in 2016 but was apparently still being paid some fees.

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The outcome may set a precedent for transparency in celebrity ventures. More information is expected to surface as the probe deepens with forensic audits and asset tracing.