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Fraud

Shilpa Shetty's Restaurant Bastian Shutting Down Amidst Rs 60 Crore Fraud Scandal

Strategic Insights

— 1 min read

Shilpa Shetty announced the closure of her seafood restaurant, Bastian, located in Bandra, citing "countless memories, unforgettable nights, and moments that shaped the city's nightlife" as it "takes its final bow." The closure comes just weeks after the actress and her husband, Raj Kundra, were accused of a Rs 60 crore fraud. While Bastian Bandra will shut down, the company plans to continue operations at Bastian At The Top in Dadar, with Shilpa Shetty assuring that the legacy will "carry forward in a brand-new chapter with brand new experiences."

Key Takeaways:

  • Shilpa Shetty's gourmet seafood bar, Bastian, is shutting down its operations in Bandra, with its last day scheduled for September 4.
  • The closure is attributed to the establishment's extensive history of creating "countless memories, unforgettable nights, and moments that shaped the city's nightlife."
  • Shilpa Shetty stated that while Bastian Bandra is closing, Bastian At The Top in Dadar will continue to operate and serve customers.
  • The restaurant's co-owner, Ranjit Bindra, had entered into a business contract with Shilpa Shetty's company, SSK Yog Pvt Ltd, in 2019, acquiring a 50% stake.
  • The couple's defunct company, Best Deal TV, was accused of conspiring to defraud businessman Deep Kothari between 2015 and 2023.
  • An investigation by the Economic Offences Wing (EOW) was launched against the couple's financial history after the accusation of misappropriating funds.
  • This is not the first time Raj Kundra and Shilpa Shetty have faced legal trouble; they were previously involved in a Rs 100 crore Bitcoin scandal investigation in 2024.
  • The Enforcement Directorate allegedly found properties worth Rs 97 crore linked to a Bitcoin Ponzi scheme and seized their assets shortly after the investigation.

Statistics:

  • Rs 60 crore: The amount allegedly misappropriated by Shilpa Shetty and her husband Raj Kundra.
  • 2015-2023: The timeframe during which the couple's defunct company, Best Deal TV, allegedly conspired to defraud businessman Deep Kothari.
  • 2024: The year in which the couple was involved in a Rs 100 crore Bitcoin scandal.
  • Rs 97 crore: The alleged value of properties linked to a Bitcoin Ponzi scheme, which were seized by the Enforcement Directorate in 2024.
  • 2025: The year in which Raj Kundra unveiled 'Inka Experience' in Lower Parel, a subsidiary of Bastian Hospitality with a focus on Peruvian-Asian cuisine.

Sources:

  • Shilpa Shetty's Instagram stories
  • IE Online Media Services Pvt. Ltd.
  • Contify.com

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