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

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Taarak Mehta Ka Ooltah Chashmah star Raj Anadkat rubbishes rumours of his spat with his on-screen father Dilip Joshi

Raj Anadkat, who plays the pivotal role of Tipendra Lal Gada aka Tapu in Sab TV's popular longest-running show Taarak Mehta ka Ooltah Chashmah, rubbishes all the rumours of his troubled relationship with on-screen father Dilip Joshi. It was alleged that Raj would arrive late to the sets and making his senior co-actor wait for hours which led to the alleged conflict. Reacting to this, Raj Anadkat rubbished the reports calling it ‘baseless rumours and cooked up stories’. While speaking to a tabloid, the actor said he doesn’t focus on such baseless rumours or cooked up stories and would rather focus and give the best to his work to give the best experience to his viewers. He also said that he will continue to smile and rise above everything, amidst the baseless things. Well, even Dilip Joshi come forward and claimed all the rumours to be false and called it 'absolutely rubbish' and questiond that who cooked up all these false stories. Taarak Mehta Ka Ooltah Chashmah has be

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