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SEBI penalizes Rs 3 lakh to Raj Kundra and Shilpa Shetty, know the reason

Now SEBI has also started action against businessman Raj Kundra, who is accused of making pornographic films. SEBI has imposed a fine of Rs 3 lakh on Raj Kundra, his actress wife Shilpa Shetty, and Kundra’s Vivaan Industries. 

Allegations of delay in giving information

According to sources, SEBI has taken this action on Shilpa Shetty and Raj Kundra under the Prevention of Insider Trading Rules. He is accused of delay in giving information about the preferential allotment. The couple has been given 45 days to deposit the penalty. 

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Transaction details not given on time

According to the information, the preferential allotment of shares worth Rs 2.57 crore was done in 2015. At that time there were shares worth more than Rs 10 lakh, so disclosure was necessary. Under the rules, Shilpa Shetty and Raj Kundra were required to be disclosed within 2 trading days of the transaction but the disclosure was given in May 2019. 

2.57 lakh shares were issued to both

Out of the total five lakh shares, 2.57 lakh shares were issued to both. Both were issued 1.28 lakh-1.28 lakh preferential shares of the company. He got a 25.76-25.76% stake in Vian Industries and a total of 51.51% stake. 



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