The Bombay High Court on Wednesday instructed actor Shilpa Shetty and businessman Raj Kundra to deposit Rs 60 crore or furnish a continuous bank guarantee before considering their request to travel to London. The order comes as the couple seeks temporary relief from a Lookout Circular (LOC) issued against them during an ongoing investigation into a Rs 60 crore fraud case.advertisementThe bench of Justices AS Gadkari and RR Bhonsale heard the couple’s application, which cited the urgent need to visit Kundra’s father, who is undergoing serious medical treatment in London.The plea emphasised that the trip was solely for family medical reasons, stating, “This is not a leisure trip, and the applicants undertake that they will only visit the father of Kundra and come back to India as scheduled, if permitted,” stated the plea.The LOC was issued in connection with a complaint from Deepak Kothari, Director of UY Industries Pvt. Ltd., who accused the couple of inducing him to invest in their now-defunct company, Best Deal TV Pvt. Ltd., between 2015 and 2023.Kothari alleged that he invested Rs 60.48 crore as a loan, supported by a personal guarantee from Shetty, but claimed the business suffered heavy losses.During the hearing, Senior Advocate Abad Ponda, representing the couple, argued, “There is no law under which the couple should be directed to deposit the entire amount.””They are not satisfied with the bona fides of the Applicants and there is no guarantee that the Applicants will return to India. Therefore, the Applicants must deposit the amount in court,” the bench responded.Ponda requested flexibility, stating that “they may be permitted to submit surety in court or secure in any other reasonable manner.”However, the bench orally directed him to “furnish continuous bank guarantees of a nationalised bank to show their bonafides.”When Ponda suggested that it should at least be a reasonable amount, the bench declined, stating “the bank guarantee has to be on the full amount and on a continuous basis.”Ponda assured the court that he would take instructions on the bank guarantee by next week.The court maintained its position that no travel permission would be granted without the full deposit or an equivalent bank guarantee.The couple has contended in court that the criminal proceeding has been maliciously instituted with an ulterior motive for wreaking vengeance on the petitioner and with a view to extorting money and compelling the petitioner to pay a huge sum of money to the complainant.advertisementThey further alleged that the sole objective of “harassing” them and coercing them into paying back the investment amount by tarnishing their image and goodwill before the public and the media.An LOC is a notice issued to the Indian Bureau of Immigration to restrict the foreign travel of individuals facing legal proceedings.It is typically issued at the request of an investigating agency to prevent the person of interest from leaving the country, or to ensu in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. 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Deposit Rs 60 crore or provide a bank guarantee: High Court to Shilpa Shetty and Raj Kundra.
