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Shilpa Shetty, Raj Kundra and their company Viaan Industries fined Rs 3 lakh by SEBI in insider trading case

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Shilpa Shetty, Raj Kundra and their company Viaan Industries fined Rs 3 lakh by SEBI in insider trading case

The Securities and Exchange Board of India (SEBI) has imposed a fine of Rs 3 lakh on actor Shilpa Shetty, her husband and businessman Raj Kundra and his firm Viaan Industries for flouting SEBI’s regulations on insider trading.

Shilpa Shetty was one of the directors of this company and resigned last year. SEBI had conducted an investigation into the dealings of Viaan Industries Limited (formerly known as Hindustan Safety Glass Industries Limited) for the period between September 01, 2013 and December 23, 2015. The shares of this company are listed on the Bombay Stock Exchange (BSE) and Ripu Sudan (alias Raj Kundra) and Shilpa Kundra (alias Shilpa Shetty) were its promoters during the period under investigation.

As per the order issued by SEBI, 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 Ripu Sudan and Shilpa Kundra,” the order states.

The crime branch has claimed to have seized nearly 20 terabytes (TB) data of porn films and seven servers that were used to save them from Viaan Industries’ office in Andheri West. Police sources said some data was deleted, and they have roped in forensic experts to retrieve it.

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The Madras High Court has granted early screenings of Vijay’s Leo movie from 7 AM, requesting the TN government to resolve any issues.

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The Madras High Court has granted early screenings of Vijay’s Leo movie from 7 AM, requesting the TN government to resolve any issues.

Madras High Court Grants Early Screenings of Vijay’s “Leo” Movie at 7 AM, Urges TN Government to Address Concerns

The Madras High Court has made a landmark decision in favor of the much-anticipated Tamil film “Leo,” starring actor Vijay. In a significant move, the court has granted permission for early screenings of the movie from 7 AM, urging the Tamil Nadu government to swiftly address any issues and facilitate the smooth release of the film. This decision marks a pivotal moment in the realm of Tamil cinema and the entertainment industry at large.

Historical Context:

The Indian film industry, particularly the Tamil film industry, has seen its share of controversies and challenges related to film releases. Issues such as censorship, political disputes, and public sentiment have often played a significant role in shaping the release schedules and screening times for films. Vijay, one of Tamil cinema’s most prominent actors, has been at the center of such controversies in the past. This decision by the Madras High Court is, therefore, particularly noteworthy.

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The Ruling:

The Madras High Court’s decision to permit early screenings of “Leo” comes as a response to a plea filed by the film’s producers. The court, while considering the plea, took into account various factors, including the film’s anticipated popularity and the prevailing circumstances. The court emphasized the importance of accommodating the audience’s interests and allowing them to enjoy the film without disruptions.

A Step Towards Normalization:

The court’s decision signifies a positive shift in the film industry, where release dates and screening times are often mired in controversy. By allowing screenings to commence at 7 AM, the court aims to reduce the chances of public unrest and congestion near theaters, especially in the wake of high-profile film releases.

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The Role of the Tamil Nadu Government:

The Madras High Court, in its ruling, also called upon the Tamil Nadu government to cooperate in ensuring a seamless release for the film. This cooperation extends to providing necessary security measures to maintain law and order around theaters during the early screenings.

Implications for the Entertainment Industry:

The decision is expected to set a precedent for the release of other highly anticipated films, not just in Tamil cinema but also in the broader Indian film industry. The court’s emphasis on the importance of accommodating the audience’s interests could lead to more flexible screening times for movies in the future.

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The Audience’s Perspective:

For moviegoers and fans of Vijay, this decision comes as a welcome relief. They can now look forward to enjoying the film without any undue delays or disruptions, ensuring a memorable cinematic experience.

In conclusion, the Madras High Court’s ruling to allow early screenings of Vijay’s “Leo” at 7 AM while urging the Tamil Nadu government to resolve any issues paves the way for a more audience-centric approach in the film industry. It is a landmark decision that highlights the importance of balancing the interests of filmmakers and the movie-loving public. This judgment is poised to make a positive impact on the release of future films, ushering in a new era of flexibility and convenience for cinema enthusiasts.

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