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Bombay High Court Stays Eviction Notice Against Shilpa Shetty and Raj Kundra in Cryptocurrency Scam Case

The Bombay High Court has paused the Enforcement Directorate's eviction notice against Shilpa Shetty and Raj Kundra, giving the couple time to challenge the action linked to an alleged Rs 6,600 crore cryptocurrency scam 

11-10-2024
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The Bombay High Court on Thursday temporarily halted an eviction notice issued by the Enforcement Directorate (ED) to actor Shilpa Shetty and her husband, businessman Raj Kundra. The notice was part of the ongoing investigation into an alleged Ponzi cryptocurrency scam valued at Rs 6,600 crore, and it had been served under the Prevention of Money Laundering Act (PMLA).

The couple's lawyer, Prashant Patil, confirmed the court’s decision, explaining that it gives them an opportunity to contest the ED's actions. "The high court has stayed the ED’s eviction notice against the residential properties of Raj Kundra and Shilpa Shetty," Patil said.

In its investigation, the ED attached assets valued at Rs 97.79 crore, including real estate linked to the alleged Bitcoin farming scam. According to the ED, the accused raised Rs 6,600 crore worth of bitcoins in 2017, luring investors with promises of a 10 percent monthly return.

Patil emphasized that Shetty and Kundra have no involvement in the Ponzi scheme, stating, "The couple has no connection to the alleged scam and will continue to cooperate fully with the ED's investigation."

The ED had sought to take possession of the couple's properties, including a flat in Juhu, a bungalow in Pune, and equity shares, by October 13. The court, led by Justices Revati Mohite-Dere and Prithviraj Chavan, has now allowed the couple time to appeal before the Appellate Tribunal in Delhi for further legal relief.

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