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Shilpa Shetty & Raj Kundra charged with ₹3 lakh fine by SEBI

Reportedly, Shilpa Shetty and her husband have been fined Rs 3 lakh by the SEBI for insider trading.

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In the latest development of Raj Kundra’s case, now the Securities and Exchange Board of India (SEBI) has filed a penalty on Shilpa Shetty, her husband Raj Kundra, and his company Viaan Industries Ltd for reportedly violating the rules of insider trading.

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According to the news agency ANI, “SEBI (Securities and Exchange Board of India) imposes a penalty of Rs 3 lakhs on actor Shilpa Shetty, her husband and businessman Raj Kundra, and his company Viaan Industries for violation of its Insider Trading rules.”

Check it out:

On October 29, 2015, Viaan Industries Limited made a “preferential allotment of 5,00,000 equity shares to four persons. In this preferential allotment, 1,28,800 shares each were allotted to Raj Kundra and Shilpa Kundra,” said the order issued by SEBI.

The shares of this company are listed on the Bombay Stock Exchange (BSE) and Raj Kundra and Shilpa Kundra were its promoters during the period under investigation.

Reportedly, according to the SEBI’s Prohibition of Insider Trading Rules, 2015, the husband-wife duo had to share this transaction with the company within two days in case and it has surpassed 10 lakh value. “In terms of Regulation 7 (2) (b) of the PIT Regulations, the company was required to make the necessary disclosures to the stock exchange within two trading days of the receipt of the disclosures from (Shilpa Shetty and Raj Kundra) or from becoming aware of such information pertaining to the transactions,” the SEBI order said.

On July 19th, Raj Kundra was arrested by the Mumbai Police for allegedly producing and distributing porn films through a mobile application called HotShots.

Stay tuned to The Live Mirror for more updates.

ALSO READ: Raj Kundra Sent To 14 Judicial Custody By Mumbai Court

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