SEBI imposes Rs 3 lakh fine on Shilpa Shetty, Raj Kundra and company Viaan Industries in insider trading case
The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 3 lakh on Bollywood actor Shilpa Shetty Kundra, her businessman husband Raj Kundra and their company Viaan Industries for violating trading rules.
Kundra, Shetty and Viaan are fined for a three-year delay within the disclosure of an allotment of preferential shares.In 2015, Viaan Industries had made a preferential allotment of 500,000 equity shares. Of this 128,800 equity shares each were allotted to Kundra (referred to as Ripu Sudan Kundra) and Shetty, the promoters of the corporate .
According to SEBI’s Prohibition of trading Rules, 2015, the promoters had to disclose this transaction to the corporate within two days if it exceeded Rs 10 lakh in value. the corporate , in turn, has got to relay this disclosure t...