Mumbai (Maharashtra) [India], October 16 (ANI): Actress Shilpa Shetty has decided to cancel her planned foreign trip after the Bombay High Court recently refused to grant her permission, amidst an ongoing investigation into an alleged Rs 60-crore fraud case.

On Thursday, Shetty's lawyer informed the Bombay High Court that the actress would not proceed with her travel plans following the court's decision to deny a temporary suspension of the Look Out Circular (LOC) issued against her and her husband, businessman Raj Kundra.

The Mumbai Police's Economic Offences Wing (EOW) had issued the LOC against the couple as part of their investigation into a serious financial fraud case. The couple had approached the Bombay High Court seeking a temporary suspension of the LOC to enable them to travel abroad. However, the court refused their request, leading Shetty to cancel her trip.

In August, a case was filed against Shilpa Shetty, her husband Raj Kundra, and another individual for allegedly cheating a businessman of over Rs 60 crore.

The complaint, filed by businessman Deepak Kothari, director of Lotus Capital Financial Services Ltd, claims the incidents took place between 2015 and 2023. Kothari alleged that the couple took the money under the pretext of expanding their business but used it for personal expenses instead.

According to Kothari, in 2015, Shetty and Kundra approached him through a mediator seeking a Rs 75 crore loan for their company, Best Deal TV Pvt Ltd, which promoted lifestyle products and ran an online shopping platform. The proposed interest rate was 12 per cent. Later, they reportedly asked him to provide the funds as an 'investment' instead of a loan, assuring him of monthly returns and repayment of principal.

Kothari claimed he transferred Rs 31.95 crore in April 2015 under a share subscription agreement, and another Rs 28.53 crore in September 2015 under a supplementary agreement. The total amount was credited to Best Deal TV's bank accounts.

Repeated attempts to recover the funds allegedly failed, and Kothari accused the couple of 'dishonestly using' the money for personal benefit. Shilpa and Raj's lawyer, Prashant Patil, has denied the allegations and stated that they will present the 'truth' to the investigating agencies. (ANI)