Court asks cops to probe complaint against Shilpa Shetty, husband, others in gold scheme

Mumbai court orders police probe into fraud complaint against Shilpa Shetty Kundra, Raj Kundra, and others in gold scheme.

A Mumbai court has directed police to probe a complaint against Bollywood actor Shilpa Shetty Kundra, her husband Raj Kundra and others for allegedly defrauding an investor in a gold scheme.

In an order passed on Tuesday, additional sessions judge N.P. Mehta said "prima facie cognizable offence is made out" against the Kundra couple, the company founded by them- Satyug Gold Private Limited- as well as two directors and an employee of the firm.

The court directed the BKC police station to investigate the allegations made in the complaint filed by Prithviraj Kothari, managing director of Riddhi Siddhi Bullions.

The judge asked the police to register an FIR against them under relevant Indian Penal Code sections for cheating and criminal breach of trust "if any cognizable offence is found to have been committed by accused persons".

In the complaint filed through advocates Harikrishna Mishra and Vishal Acharya, Kothari said the Kundra couple had launched a scheme in 2014 under which anyone wanting to invest would be required to make complete payment of gold at a discounted rate upfront at the time of applying for the scheme. Later, an agreed quantity of gold would be delivered on the maturity date.

Based on the representation made by the accused persons, the complainant invested ₹90,38,600 under a 5-year plan on the assurance that 5,000 grams of 24-carat gold would be delivered on April 2, 2019, the plea said. However, the promised amount of gold was never delivered on the maturity date and after, it added.

Thus by making "an utterly bogus scheme" the accused have conspired and in connivance with each other committed an offence punishable under relevant provisions of IPC cheating and criminal breach of trust, the complaint said.