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Unexpected shock to Shilpa Shetty and Raj Kundra .. Huge fine for doing so! | SEBI imposes Rs 3 lakh fine on Shilpa Shetty and Raj Kundra for insider trading

Bollywood

oi-Bhargav Reddy

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Bollywood actress Shilpa Shetty and her husband Raj Kundra’s troubles are unlikely to abate now. It is learned that Raj Kundra was arrested on charges of making pornographic images and airing them through an app to raise money. But now Shilpa herself seems to be in trouble. In fact, Shilpa Shetty was fined Rs 3 lakh by SEBI. SEBI (Securities and Exchange Board of India) has fined Raj Kundra and his company Wayan Industries for violating insider trading regulations.

On the one hand, when Raj Kundra was sent to judicial custody for 14 days, SEBI also took action against Raj Kundra and Shilpa Shetty. In fact, Raj’s bail petition was also heard in a Mumbai court. Raj also faced backlash during the trial. The court rejected Raj’s bail application. The Esplanade Court in Mumbai heard the bail petitions of Raj Kundra and Ryan Thorpe. The court, however, was not satisfied with the arguments of Raj’s lawyers. Their bail application was subsequently rejected. Raj Kundra was arrested on July 19 by the Mumbai Crime Branch.

SEBI imposes Rs 3 lakh fine on Shilpa Shetty and Raj Kundra for insider trading

Raj has been in police custody since his arrest. Police say they have strong evidence against Raj. The thing is that the sculptor has not yet been given a clean chit in this case. Forensic experts are examining the Raj Kundra Company bank account. Shilpa Shetty is a director at Raj Company Vian Industries. Also, Shilpa Shetty is using an account where money is coming from the porn business. Due to this, Shilpa has not yet received a clean chit in this case.

English summary

As per latest report Capital Markets regulator Securities and Exchange Board of India (SEBI) imposed a fine of Rs 3 lakh on Shilpa Shetty, Raj Kundra and Viaan Industries, the company they own, violating its insider trading rules.

Story first published: Thursday, July 29, 2021, 8:25 [IST]

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