Bombay HC asks Shilpa Shetty, Raj Kundra to deposit Rs 60 crores for travel, and LOC relief

The Bombay High Court has directed actor Shilpa Shetty and her husband, businessman Raj Kundra, to deposit Rs 60 crore or provide a continuous bank guarantee from a nationalised bank before it will consider lifting a Lookout Circular (LOC) restricting their foreign travel. This order came during a hearing on their urgent plea to visit London for Kundra's ailing father, who is undergoing serious medical treatment. The bench of Justices AS Gadkari and RR Bhonsale emphasised the need to demonstrate bona fides amid doubts about their return to India. The LOC stems from a Rs 60.48 crore fraud complaint filed by Deepak Kothari, Director of UY Industries Pvt Ltd, alleging the couple induced him to invest in their now-defunct Best Deal TV Pvt Ltd between 2015 and 2023. Kothari claims the funds, provided as a loan with Shetty's personal guarantee, were misused amid heavy business losses, with no recovery despite repeated demands. The Economic Offences Wing (EOW) of Mumbai Police is inv...

Disney cuts thousands of jobs in second wave of layoffs

Company aims to eliminate 7,000 positions and save $5.5bn in costs across business segments, including ESPN and Disney Parks

Walt Disney will begin a second wave of layoffs on Monday involving thousands of jobs, as part of efforts to eliminate 7,000 positions and save $5.5bn in costs, according to sources familiar with the matter.

The company will cut “several thousand” jobs through Thursday, with the latest round of reductions bringing the total number of jobs culled to 4,000, Disney officials say.

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