Shilpa Shetty shuts down iconic restaurant Bastian Bandra amid Rs 60 crore fraud allegations

Bollywood actor Shilpa Shetty Kundra has announced the closure of her iconic restaurant, Bastian Bandra, which she co-owned with restaurateur Ranjit Bindra.

Founded in 2016, the restaurant was popular for its seafood and vibrant atmosphere.

Shilpa Shetty bids farewell to Bastian Bandra

On Tuesday, Shilpa took to her Instagram stories to share a heartfelt message with her fans: “This Thursday marks the end of an era as we bid farewell to one of Mumbai’s most iconic destinations – BASTIAN BANDRA. A venue that gave us countless memories, unforgettable nights, and moments that shaped the city’s nightlife now takes its final bow.”

As claimed by industry insiders, the closure comes amid financial strain faced by the Kundra family.

Shilpa and her husband, Raj Kundra, are currently facing a high-profile legal matter.

The Economic Offences Wing (EOW) has booked the couple for allegedly cheating a Mumbai-based entrepreneur, Deepak Kothari, of Rs 60.4 crores in a loan-cum-investment deal.

According to reports, Kothari had invested the sum between 2015 and 2023, under the pretext of expanding a business through the now-defunct company Best Deal TV Pvt Ltd, but claimed that the funds were allegedly misused for personal expenses.

An unknown third party has also been charged in connection with the case.

The couple’s legal representatives have dismissed EOW’s allegations, stating they are purely civil in nature.

According to the lawyer, the dispute was adjudicated by the NCLT Mumbai on October 4, 2024, specifying that no criminal wrongdoing has been established.

“This is an old transaction, wherein the company went into financial distress and eventually got entangled in a long legal battle at the NCLT. There is no criminality involved, and our auditors have submitted all the necessary supporting documents from time to time, as requested by the EOW, including detailed cash flow statements," said advocate Prashant Patil.

He added that the case was “baseless and malicious", aimed at maligning Kundra and Shetty, and that appropriate action is being initiated from their side against the perpetrators.

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