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Lindsay Lohan was spotted leaving her friend’s hotel in N.Y. City and going on shopping excursion Wednesday with Vikram Chatwal.

It’s the second time she’s been romantically linked to the hotelier.

Last fall, the two were rumored to be dating, with Lohan getting into a heated argument with Chatwal’s wife (they’re separated) no less.

Romance or not, here’s a photo of them yesterday …

Lindsay and Bader Image

The 39-year-old multimillionaire has been spotted at with LiLo at his N.Y. City apartment partying … without any alcohol, of course, LiLo swears.

Last year, her rep said, “Lindsay and Vikram are very good friends and nothing more than that. There’s no romance between the two of them.”

Expect a similar denial amid the rekindled rumors any minute now.

[Photo: Fame/Flynet]