Shilpa Shetty, Raj Kundra fined Rs 3 lakh by SEBI

The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 3 lakh on actress Shilpa Shetty Kundra, her businessman husband Raj Kundra and their company Viaan Industries for violation of its Insider Trading rules.

As per the SEBI order, the couple has been fined Rs 3 lakh, which has to be paid ‘jointly and severally’.

The order followed a probe, which was conducted between September 2013 to December 2015 to ascertain the violation of the norms of Prohibition of Insider Trading (PIT) by the said entities.

The order also noted that Viaan Industries made a preferential allotment of Rs 5 lakh equity shares to four people, and in the said allotment the company allotted 128,800 equity shares each to Raj Kundra and Shilpa Shetty.

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