The Raj Kundra Fraud case took a fresh turn on Friday as the businessman informed the Mumbai police’s Economic Offences Wing (EOW) that he couldn’t repay the loan in 2016 because of demonetisation. Where previous currency notes of ₹500 and ₹1000 were banned.

Actor turned businessman, Raj Kundra, is facing investigations in a fraud case of ₹60 crore filed by Bombay-based businessman Deepak Kothari. Kothari had previously lent the couple funds amounting to ₹60 crore in a loan-cum-investment deal linked to a now-defunct online shopping platform, which they used for personal expenses and failed to repay.

What did Kundra say?

As per a report by the Indian express, Kundra claimed that over Rs 20 crore was spent on advertising for the firm, with a similar amount invested in setting up and empl

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