Raj Kundra Case: SEBI slaps Shilpa Shetty and the businessman's Viaan Industries with a fine for disclosure lapses
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Markets regulator Sebi on Wednesday slapped a monetary penalty on Viaan Industries Ltd, Shilpa Shetty Kundra and Ripu Sudan Kundra, who is also known as Raj Kundra, for disclosure lapses and consequent violation of insider trading norms.
According to a Sebi order, a total fine of Rs 3 lakh has been imposed on them to be paid jointly and severally. Shilpa and Ripu are the promoters of Viaan Industries. The order follows a probe conducted between September 2013- December 2015 to ascertain violation of Prohibition of Insider Trading (PIT) norms by the entities.