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

Raj Kundra, 45 was arrested on July 19 by Mumbai Police in the case involving the production of pornographic content and uploading it via the app.

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Raj Kundra and Shilpa Shetty

The Securities and Exchange Board of India (SEBI) on Wednesday fined a penalty of ₹ 3 lakh on Shilpa Shetty, her businessman husband Raj Kundra aka Ripu Sudan Kundra, and their company Viaan Industries for violation of its Insider Trading rules. The market regulator further ordered Kundra, Shetty, and their company to remit/pay the penalty within 45 days of the receipt of the order. Shilpa and Ripu are the promoters of the firm.

The SEBI said that a fine has been imposed on Kundra, Shetty, and their company for a delay of three-year in the mandatory disclosure to stock exchanges. The market regulator said the penalty has to be paid jointly and severally by Kundra and Shetty.

Securities and Exchange Board of India had conducted an investigation into the trading/dealings in the scrip of Viaan Industries Limited (formerly known as Hindustan Safety Glass Industries Limited), during the period September 01, 2013, to December 23, 2015. Pursuant to the investigations, it was observed that Ripu Sudan Kundra, Shilpa Shetty Kundra, and Viaan Industries Ltd had allegedly violated the provisions of Regulations 7(2)(a) and 7(2)(b) of SEBI (Prohibition of Insider Trading) Regulations, 2015, SEBI order said.

The SEBI order noted that in 2015, Viaan Industries made a preferential allotment of 5 lakh equity shares to four persons but in the said preferential allotment, the company allotted 128,800 equity shares each to its two promoters–Kundra and Shetty amounting to ₹2.57 crore each.

As per Regulation 7(2) (a) of SEBI’s Prohibition of Insider Trading Rules, 2015, promoters of the company are required to disclose their transaction to the company within two days, if the amount exceeded ₹ 10 lakh.

Raj Kundra, 45 was arrested on July 19 by Mumbai Police in the case involving the production of pornographic content and uploading it via the app. He was booked under IPC sections 420 (cheating), 34 (common intention), 292, and 293 (related to obscene and indecent advertisements and displays) besides relevant sections of the IT Act and the Indecent Representation of Women (Prohibition) Act.

On Sunday, the police had informed that four employees of Kundra have turned witnesses against him in the pornography racket case, increasing troubles for him. The employees told police that they were asked to delete clips

Kundra and his associate Ryan Thorpe have been sent to judicial custody for 14 days.

Read Also: Covid antibodies highest in Madhya Pradesh, lowest in Kerala: ICMR Survey

In other India news, The latest findings by the Indian Council for Medical Research said Madhya Pradesh has the highest seropositivity or seroprevalence at 79 percent

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BJP slams Arvind Kejriwal, shares inside visual of Delhi CM’s bungalow, AAP reacts

Sachdeva further pegged the cost of the bungalow at a whopping Rs 3.75 crore, equipped with a gym, sauna room and a jacuzzi.

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BJP slams Arvind Kejriwal, shares inside visual of Delhi CM’s bungalow, AAP reacts

Ahead of the Delhi Assembly Election, the controversy regarding Delhi Chief Minister’s bungalow, once occupied by Arvind Kejriwal, has intensified ahead of the assembly polls in the national capital. The BJP has been referring to the 6 Flag Staff Road bungalow as sheesh mahal or palace of mirrors, which denotes opulence or luxury.

Taking to X, Delhi BJP President Virendraa Sachdeva said that they have been telling the truth about the glass palace of debauchery of the person who calls himself a common man (ArvindKejriwal). He added that today they will show it to the people. Sharing a video, the BJP Delhi President said that Kejriwal has built a 7-Star Resort for himself by embezzling public money. 

Sachdeva further pegged the cost of the bungalow at a whopping Rs 3.75 crore, equipped with a gym, sauna room and a jacuzzi. He mentioned that the bungalow had marble granite lighting done at a cost of Rs 1.9 crore while civil work needed another Rs 1.5 crore, adding that the gym and spa fitting alone cost Rs 35 lakh.

He further slammed Arvind Kejriwal for breaking his promise not to use government resources for personal use. The BJP President said that Kejriwal had promised not to take government houses, cars, or security, but now he is looting the hard-earned money of Delhi’s taxpayers.

Furthermore, he also compared the amount spent on the bungalow to the possible number of public goods that could have been bought with that money, including flats for economically weaker sections (EWS), auto-rickshaws, and e-rickshaws. 

Meanwhile, the AAP rejected the allegations as baseless propaganda with Manish Sisodia, former deputy chief minister, accusing the BJP of trying to deflect attention from the pressing issues.

The AAP leader said that instead of answering critical questions about mismanagement of funds for schools, mid-day meals, and hospitals in states like Haryana and Uttar Pradesh, they focus on Kejriwal’s former official residence. He continued that when people ask about education and health reforms, they talk about a bungalow.

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Delhi Elections: Arvind Kejriwal announces Rs 10 lakh insurance, other guarantees for auto drivers

The AAP government will also provide life insurance worth Rs 10 lakh and accident insurance of Rs 5 lakh.

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Delhi Elections: Arvind Kejriwal announces Rs 10 lakh insurance, other guarantees for auto drivers

Former Delhi Chief MInister and AAP national convenor Arvind Kejriwal today announced five guarantees for auto drivers in the national capital ahead of assembly elections. 

Reportedly, among the five key guarantees are Rs 1 lakh for marriage of daughters and life insurance worth Rs 10 lakh. Arvind Kejriwal said that on Monday he had a meeting with auto drivers at his home. He added that when the AAP will come to power again, they will implement these five announcements.

The former Chief Minister said that the AAP government will give Rs 1 lakh to all auto drivers for the marriage of their daughters. He also promised to provide Rs 2,500 on Diwali and Holi as allowance to purchase school uniforms. Furthermore, the government will also provide life insurance worth Rs 10 lakh and accident insurance of Rs 5 lakh.

Arvind Kejriwal also assured the auto drivers of providing free coaching to their school children and the relaunch of the PoochO app, which allows people to access the database developed by the Delhi Integrated Multi-Model Transit System of registered auto drivers mobile numbers and call them to book a ride.

The AAP is aiming to retain power in Delhi for the fourth time after its massive electoral successes in 2020 in which it routed the BJP, winning 62 seats in the 70-member Assembly.

The Arvind Kejriwal-led party has been campaigning hard on the alleged failure of the BJP-led Centre to maintain law and order in Delhi, pointing to rising incidents of extortion and gun violence.

Meanwhile, the BJP has been accusing the AAP of corruption and mismanagement, blaming the party’s alleged misgovernance for Delhi’s pollution woes. Previously, the BJP gave the slogan Ab Nahi Sahenge, Badal Kar Rahenge, meaning won’t tolerate now, will bring the change, asserting to end the AAP rule.

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Several Opposition leaders including RJD’s Lalu Prasad Yadav support Mamata Banerjee for INDIA bloc leadership

Lalu Prasad Yadav supported Mamata Banerjee, saying that the leadership should be entrusted to her, adding that any objections from the Congress are inconsequential.

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Several Opposition leaders including RJD’s Lalu Prasad Yadav support Mamata Banerjee for INDIA bloc leadership

Many alliance leaders supported West Bengal Chief Minister and Trinamool Congress leader Mamata Banerjee’s willingness to lead the INDIA bloc. 

Rashtriya Janata Dal (RJD) chief and former Union minister Lalu Prasad Yadav also supported Mamata Banerjee, saying that the leadership should be entrusted to her, adding that any objections from the Congress are inconsequential.

When asked about the Congress’ reservation to accept her as the opposition bloc leader, Lalu Prasad said that the Congress’s opposition will not make any difference and she should be allowed to lead the INDIA bloc.

Previously, Lalu Prasad’s son and senior RJD leader Tejashwi Yadav had said he had no objection to any senior leader of the INDIA bloc, including Banerjee, leading the coalition, but emphasized that the decision must be reached through consensus.

Furthermore, Shiv Sena (UBT) Rajya Sabha MP Priyanka Chaturvedi said Mamata Banerjee’s offer to lead the INDIA alliance is important, recognising her past contributions. The Shiv Sena (UBT) leader said that whatever stand is taken, the INDIA alliance will make the decision collectively. She added that the proposal put forth by Mamata Banerjee that she is ready to lead the bloc is an important suggestion, and that they believe that her contribution in history has been significant.

Earlier on Friday, Trinamool Congress Chief Mamata Banerjee expressed dissatisfaction with the functioning of the opposition INDIA bloc and indicated her willingness to lead it if given the opportunity. The West Bengal Chief Minister said that she was capable of handling both the responsibilities of leading the opposition front and continuing her role as the chief minister of West Bengal.

Additionally, Nationalist Congress Party (NCP) MP Supriya Sule also expressed that they would be happy if TMC chief Mamata Banerjee takes on a greater role within the opposition alliance. She said that the West Bengal chief minister is an integral part of the INDIA alliance.

Meanwhile, BJP national general secretary Tarun Chugh slammed the INDIA bloc for lacking coherence and being burdened by Congress leader Rahul Gandhi.

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