A Mumbai Sessions Court ruled on Wednesday that a prima facie cognisable offence exists against actor Shilpa Shetty and her husband, businessman Raj Kundra, in connection with a case filed by bullion trader Prithviraj Saremal Kothari. The court directed the BKC police to investigate allegations of cheating made in Kothari's complaint.

The case revolves around Shetty and Kundra's company, Satyug Gold Private Limited, which allegedly launched a scheme in 2014 promising investors discounted rates on gold upfront with guaranteed delivery on a future date. Kothari, the complainant, invested Rs 90 lakhs expecting to receive 5,000 grams of 24-carat gold after five years, regardless of market fluctuations. However, upon maturity in April 2019, he claimed he did not receive the gold as promised.

Kothari further alleged that a postdated cheque issued by the company in January 2020 only covered the principal amount, significantly undervaluing the promised gold considering market rates.

Advocates representing Kothari argued that despite filing a complaint with the BKC police, no FIR was registered, prompting their appeal to the Sessions Court to direct police action.

Shetty, Kundra, and other company directors were not present in court during the proceedings. The court's decision empowers the police to register an FIR under relevant sections of the IPC and the MPID Act if a cognisable offence is found in the investigation.