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Actor <keyword id="19915080" type="General" weightage="100" keywordseo="Shilpa-Shetty" source="keywords">Shilpa Shetty</keyword> and her businessman husband <keyword id="19895826" type="General" weightage="20" keywordseo="Raj-Kundra" source="keywords">Raj Kundra</keyword> have moved the <keyword id="19905533" type="General" weightage="20" keywordseo="Bombay-High-Court" source="keywords" meta.keywordsubtype="org" meta.entityname="Bombay High Court" meta.hostid="153" meta.entityid="Bombay High Court">Bombay High Court</keyword> challenging ED's notices directing them to vacate their house in Mumbai's <keyword id="19933318" type="General" weightage="20" keywordseo="Juhu" source="keywords">Juhu</keyword> area and a farmhouse in Pune in connection with a money-laundering case. The pleas came up for hearing on Wednesday before a division bench of Justices Revati Mohite Dere and Prithviraj Chavan. The court issued notice to the <keyword id="19895344" type="General" weightage="20" keywordseo="Enforcement-Directorate" source="keywords" meta.keywordsubtype="org" meta.entityname="Enforcement Directorate" meta.hostid="153" meta.entityid="Enforcement Directorate">Enforcement Directorate</keyword> (ED) and posted the matter for hearing on Thursday. Their petitions challenge ED notices dated September 27 issued to Shetty and Kundra directing them to evict their residential premises here and a farmhouse in Pune within ten days in connection with a money-laundering case linked to an alleged <keyword id="23486542" type="General" weightage="20" keywordseo="Bitcoin-fraud" source="keywords">Bitcoin fraud</keyword>. The couple's advocate Prashant Patil said that Shetty and Kundra received the <keyword id="20675198" type="General" weightage="20" keywordseo="eviction-notices" source="keywords">eviction notices</keyword> only on October 3. He termed the notices arbitrary and illegal and sought them to be quashed. According to the pleas, there is no grave urgency for the petitioners to vacate their premises and that the issuance of such eviction notices was uncalled for. "The petitioners are also seeking relief on humanitarian grounds as the premise in question is their residential premise in which they have been staying with their family of six members for almost two decades," the petitions said. The pleas also sought HC to stay the effect of the eviction notices. As per the pleas, the ED had in 2018 lodged a complaint against one <keyword id="21346793" type="General" weightage="20" keywordseo="amit-bhardwaj" source="keywords">Amit Bhardwaj</keyword> and others for an alleged Bitcoin fraud and on charges of <keyword id="19899231" type="General" weightage="20" keywordseo="money-laundering" source="keywords">money laundering</keyword>. Both Shetty and her husband have not been named as accused in the case. The ED, during its probe, had summoned Kundra for questioning on several occasions. Kundra had appeared before the agency after each summons, the pleas said. In April 2024, Shetty and Kundra received a notice based on an order passed by the ED provisionally attaching their assets including their residential premise in Juhu that had been purchased by Kundra's father in 2009. Both Shetty and Kundra submitted their response to the notice. "However, in contravention to the provisions of law, the adjudicating authority confirmed the provisional attachment order on September 18, 2024. This order clearly states that the attachment is confirmed only till the conclusion of trial and is subject to its outcome," the pleas said. "The petitioners (Shetty and Kundra) on October 3 received two notices dated September 27, 2024, directing them to vacate their residential premises and the farmhouse," the petitions said. The petitions said no eviction order/notice can be issued prior to conviction. The pleas added that their residential premise has no connection with the scheduled offence or any proceeds of crime. The petitions further claimed that Kundra had absolutely no connection with the alleged fraud.

Shilpa Shetty and Raj Kundra's money laundering case takes new turn as they challenge the ED's eviction notices

<div class="KonaFilter image-container display-table float_right"><div><div class="image">Raise Cache via David TischFred Wilson</div></div></div>If you still don't understand what the deal with Bitcoin is, don't worry: Even it's biggest boosters admit it is still probably still too early to be useful to the mainstream.
In <a href="https://www.youtube.com/watch?v=a9tsLOXNYDM">a talk</a> this week sponsored by the NYC Foundation for Computer Science Education, Union Square Ventures founder Fred Wilson identified the two key hurdles Bitcoin still must overcome to be useful to an average consumer.
The first is the cryptocurrency's chicken and egg problem: Nearly six years after Satoshi Nakamoto published his Bitcoin spec paper, demand for Bitcoin remains largely speculative, or induced. Here's what Wilson told his audience:
We said, If you come tonight, you're either a student, in which case we have sponsors who were making donations to cover the students, or you're buying a $25 ticket...But you had to pay it in Bitcoin. And I got a lot of emails from people, particularly in the last few days, who said, I don't have any Bitcoin, I would have to buy the Bitcoin, <a href="https://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=4&amp;ved=0CEMQFjAD&amp;url=http%3A%2F%2Fwww.businessinsider.com%2Fwhy-it-takes-so-long-to-buy-bitcon-2014-7&amp;ei=M_7LU6XtAsqfyATgn4Fg&amp;usg=AFQjCNGqMRvi0hJNyfvWSVX7jbDH-dgjPw&amp;sig2=WrKUQ9rtGzLVnevRuc97Wg&amp;bvm=bv.71198958,d.aWw">it's going to take me three days for the Bitcoin to show up in my account</a>. So I'm not going to be able to get the Bitcoin in time to make it to the event. If you had Bitcoin in your account it was simple, you just gave 1/20th of a Bitcoin and you come. So, not enough people have it. And forcing people to buy the Bitcoin to give the money to the charity isn't a great model, and we actually saw that in this event. 
The other obstacle Wilson identified to mainstream adoption is that the security systems surrounding Bitcoin remain - though he also says this is in itself represents a huge investment opportunity, as it will help address the first issue: 
One of the real issues with Bitcoin right now is that it's not that secure, and the reason it's not that secure is, it's easy to hack into people's computers, if they have a wallet on their own computer, it's easy to get in there and steal the Bitcoin. Bitcoin theft is a big issue. Bitcoin fraud is a big issue. And what will have to happen is we will need to see companies like Coinbase and others merge that can invest heavily in security. And that's both technological security, and also process security - to make you comfortable to keep your Bitcoin there. And I think that that's probably going to be first big commercial opportunity in Bitcoin, is to create secure systems. Because without that, I don't think we'll ever get enough confidence and trust in the system for people to really start using it. 
This is a big deal. Wilson, who was one of the earliest investors in Twitter and Tumblr, was also one of the first major VCs to get into Bitcoin. He was among a tiny handful of investors to be asked to speak before the New York Department of Financial Services in January as the agency prepared to craft BitLicenses (they just announced proposed guidelines this week).
So for Wilson to admit that there still aren't immediately tangible reasons to get into Bitcoin is perhaps a reassuring sign that hardcore Bitcoin evangelists are starting understand that a lot more work needs to be done before the cryptocurrency can truly break out.

One Of Bitcoin's Strongest Backers Reveals The Two Big Reasons Why It's Still Not Mainstream

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Shilpa Shetty and Raj Kundra's money laundering case takes new turn as they challenge the ED's eviction notices

PTI

One Of Bitcoin's Strongest Backers Reveals The Two Big Reasons Why It's Still Not Mainstream

Rob Wile

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