MUMBAI:  The ongoing case of Raj Kundra has totally set the internet on fire. We can everywhere see the same news flashing with some new name involved in it on daily basis. The fine has been imposed on Kundra, Shetty and their big named company for a delay of three-year in the mandatory disclosure to stock exchanges.

The Securities and Exchange Board of India (SEBI) on Wednesday charged a penalty of Rs 3 lakh on Hungama 2 actor Shilpa Shetty Kundra, her businessman hubby Raj Kundra alias Ripu Sudan Kundra and their company Viaan Industries for violation of its Insider Trading rules. There are so many new things which are coming in front of the audience, the crowd is shocked to know the same.

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According to the SEBI order, the fine has been imposed on Kundra, Shetty and their company for a delay of three-year in the mandatory disclosure to stock exchanges. The market regulator mentioned and said the penalty has to be paid jointly and severally by the both of them Kundra and Shetty, who are promoters of Viaan Industries."Securities and Exchange Board of India had conducted an investigation into the trading/dealings in the scrip of Viaan Industries Limited (formerly known as Hindustan Safety Glass Industries Limited), during the period September 01, 2013, to December 23, 2015. Pursuant to the investigations, it was observed that Ripu Sudan Kundra, Shilpa Shetty Kundra and Viaan Industries Ltd had allegedly violated the provisions of Regulations 7(2)(a) and 7(2)(b) of SEBI (Prohibition of Insider Trading) Regulations, 2015," SEBI order said.

The SEBI order highlighted that in 2015, Viaan Industries made a preferential allotment of Rs 5 lakh equity shares to four persons and in the said preferential allotment, the company allotted 128,800 equity shares each to its two promoters namely Kundra and Shetty. As per Regulation 7(2) (a) of SEBI's Prohibition of Insider Trading Rules, 2015, promoters of the company are required to open up about their transaction to the company within the time span of two days, if the amount is more than Rs 10 lakh, following which the company has to relay the disclosure to the stock exchanges within two trading days.

The court has not given any interim relief to Raj Kundra.

Kundra and his partner Ryan Thorpe have been sent to judicial custody for 14 days. On Tuesday, Mumbai Crime Branch stated that actress Shilpa Shetty has also not been given a clean chit in the pornography racket case yet, where her husband and businessman Raj Kundra is the prime accused, she did not mention the clear cut things but somewhere restricted herself.

As per the case officials forensic auditors have been appointed to investigate the case transactions in all the accounts of the people involved in the case.

The audience is waiting for more updates and the final result.

Credits- DNA

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