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.
News Source : Mid Day
