SEBI slaps ₹3 lakh fine on Shilpa Shetty, Raj Kundra and Viaan Industries for insider trading.

Sebi fines Raj, Shilpa and their firm for insider trading. SEBI slaps ₹3 lakh fine on Shilpa Shetty, Raj Kundra and Viaan Industries for insider trading. Markets regulator Sebi on Wednesday imposed a fine of Rs 3 lakh on Ripu Sudan (Raj) Kundra, Shilpa Shetty Kundra and Viaan Inds (formerly Hindustan Safety Glass Inds) for insider trading in the stock of the company between 2013 and 2015. Kundra and Shetty are promoters of the company. In October 2015, the company had made a preferential allotment of 5 lakh shares to four people, of which more than 51% were to the Kundra couple for Rs 2.6 crore. Under Sebi’s insider trading rules, anyone getting preferential allotment of shares worth more than Rs 10 lakh should have been disclosed Along with the Kundra couple, the company was also required to make a disclosure about the same. Neither the company nor the two promoters made those disclosures on the exchanges within two days. Instead, the company made the disclosures after three year...