Sebi slaps Rs. 3 lakh fine on Raj Kundra, Shilpa Shetty, Viaan Industries for disclosure lapses and violation of insider trading norms

Actress Shilpa Shetty and husband Raj Kundra have been in the headlines for the past few weeks. Bollywood actor's businessman husband was arrested and is in judicial custody for allegedly making pornographic films for mobile applications. While his bail has been rejected and he will be in judicial custody for a while, the couple is in the news for another issue. Now, it is been reported that market regulator Sebi on July 28, slapped Rs. 3 lakh fine on Viaan Industries Ltd, Shilpa Shetty Kundra, and Raj Kundra for disclosure lapses and violation of insider trading norms. The monetary penalty has been imposed on them jointly and severally. The noticees refer to Viaan Industries, Shilpa Shetty Kundra and Ripu Sudan Kundra, also known as Raj Kundra.

Shilpa Shetty and Raj Kundra are joint promoters of Viaan Industries Ltd which is named after their son. The order follows a probe that was conducted between September 2013-December 2015 by entities for violation of Prohibition of Insider Trading (PIT) norms. According to the reports, in October 2015, Viaan Industries made preferential allotment of Rs. 5 lakh to four persons and 1,28,800 lakh shares each which amounts to Rs 2.57 crore each that were alloted to Raj Kundra and Shilpa Shetty. They were required to make timely requisite deposits as the transactions exceed Rs. 10 lakh in value.

"It is on record that the relevant disclosures under the PIT Regulations were made by the Noticees with a delay of more than three years," Sebi said in a statement to PTI. "Therefore, considering these facts and circumstances, I hold that this case deserves imposition of monetary penalty upon the Noticees," said Suresh B Menon, adjudicating officer, in an order.

ALSO READ: Raj Kundra's bail plea gets rejected by Esplanade Court; Bombay High Court will continue to hear Raj Kundra’s petition on July 29

from Latest Bollywood News | Hindi Movie News | Hindi Cinema News | Indian Movies | Films - Bollywood Hungama https://ift.tt/3f7ur4y

Superman reboot in works at Warner Bros with Ta-Nehisi Coates as writer; J.J. Abrams to produce

Superman reboot movie is in the works. With Justice Leagu e - Snyder Cut version is releasing in March, there's a lot of anticipation. Amidst this, it is being reported that a reboot is being planned at Warner Bros with J.J. Abrams set to serve as producer. Deadline has reported that " author Ta-Nehisi Coates is writing a Superman reboot feature for Warner Bros and DC, which J.J. Abrams is producing under his Bad Robot label." The report also states that Henry Cavill is eager to be back as Superman but did not mention whether he has been approached for the reboot or not. Hannah Minghella will serve as producer. The plot of the film is not been revealed. Meanwhile, Henry Cavill's Superman will be seen in Justice League - Zack Snyder's version on HBO Max on March 18, 2021. from Latest Bollywood News | Hindi Movie News | Hindi Cinema News | Indian Movies | Films - Bollywood Hungama https://ift.tt/2O5aocu

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