MUMBAI, Oct. 8 -- The Economic Offences Wing (EOW) of Mumbai Police has recorded the statement of actress Shilpa Shetty in connection with a Rs.60.48-crore cheating case linked to Shetty and her husband and businessman Raj Kundra's now-defunct online retail firm, Best Deal TV Pvt Ltd. "We recorded Shilpa Shetty's statement at her residence for four hours on Saturday," an officer familiar with the probe told Hindustan Times. "We are now analysing and cross-verifying the statement." The EOW had issued look-out-circulars against Shetty and Kundra on September 5 to ensure the couple, who often travel abroad, do not leave the country while the probe is underway, the officer stated. Kundra was also questioned by the EOW at its office for around five hours on September 14. The case being investigated by the EOW stems from a complaint by Deepak Kothari, a 60-year-old Mumbai-based businessman and director of Lotus Capital Financial Services. In his complaint, Kothari alleged that between 2015 and 2023, Shetty and Kundra diverted funds he had provided to expand their business for personal purposes. The first information report (FIR) registered in Juhu on August 13, 2025, said Kothari was introduced to Kundra through a common acquaintance, and was told that Kundra and Shetty held nearly 88% shares in Best Deal TV. Initially, Kundra initially sought a loan of Rs.75 crore at 12% annual interest, but later persuaded Kothari to treat the transaction as an investment to avoid taxation and secure better returns. Kothari claimed he had transferred the entire amount in tranches through 2015, but soon discovered that insolvency proceedings had been initiated against the company for allegedly cheating another investor. He alleged that Kundra delayed repayment despite several pleas and reminders, citing the Covid-19 pandemic. Meanwhile, in 2016, Shetty resigned as director of Best Deal TV. The EOW, after preliminary inquiry, found that the complainant's funds had been misused and booked Shetty, Kundra, and an unidentified associate under sections 403 (dishonest misappropriation of property), 406 (criminal breach of trust), and 34 (common intention) of the Indian Penal Code. Police have also summoned the auditor who examined the firm's books before liquidation proceedings were filed before the National Company Law Tribunal (NCLT). Investigators are tracing the money trail to determine how the funds were spent....