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On July 19, the Mumbai police had arrested Raj Kundra in connection with an adult film racket.

Market regulator Securities and Exchange Board of India (SEBI) imposed a fine on Shilpa Shetty, Raj Kundra and Viaan Industries, the company they own for violation of insider trading norms.

According to a SEBI order, a total fine of Rs 3 lakh has been imposed on Shilpa Shetty and Ripu Sudan Kundra, who is also known as Raj Kundra. The fine is for disclosure lapses which were discovered following a probe conducted between September 2013- December 2015.

In 2015, Viaan Industries had allotted 128,800 shares each to Shetty and Kundra. According to SEBI regulations, the duo had to inform the company within two days the receipt of shares since its value exceeded Rs 10 lakh. Moreover, the company had to inform the same to the stock exchanges. The disclosure finally happened in May 2019.

 
Read/Watch Also: The latest from Raj Kundra's alleged porn racket

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