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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

India News

Lok Sabha elections: Priyanka Gandhi questions Centre on inflation, unemployment, farmers income under Congress media campaign

She questioned about no participation of Dalits, backward classes, tribals, minorities and poor upper castes in the posts and resources of the country.

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Congress leader Priyanka Gandhi Vadra questioned the BJP led government at the Centre on several developmental issues under the party’s media campaign for Lok Sabha elections, Mere Vikas ka Do Hisaab.

Priyanka Gandhi asked the BJP government to give it an account of development during its tenure of 10 years. Slamming the government on youth issues, the congress leader questioned why 83 per cent of the total unemployed in the country are youth and where are the 2 crore jobs annually? She further asked about vacancy in 30 lakh government posts and exam paper being leaked.

Alleging that corporates Rs 16 lakh crore has been waived off, Priyanka Gandhi asked why are farmers committing suicide due to debt. She also asked when will the farmers’ income double and when will they get MSP? She also enquired about no proper participation of Dalits, backward classes, tribals, minorities and poor upper castes in the posts and resources of the country.

The Congress General Secretary also raised questions on the increasing number of atrocities on women. Her remarks on social media  platform, X came on a day Congress ran a media campaign with the tagline ‘Mere Vikas Ka Do Hisaab’ and ‘Haath badlega halaat’, posing questions to the Modi government.

Earlier, Congress Parliamentary Chairperson Sonia Gandhi alleged that Prime Minister Narendra Modi is making a systematic effort to cripple the Congress financially and deny a level playing field in the Lok Sabha election. The Income Tax Department reportedly restricted the operations of the bank accounts following a tax dispute.

Meanwhile, the Income Tax Department asserted that it has not frozen the party’s bank account, but has made a recovery of Rs 135 crore because of its violation of the law that grants political parties tax exemptions. It added that the party is free to operate these accounts beyond the money recovered by the department.

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Punjab Chief Minister Bhagwant Mann, wife Gurpreet Kaur blessed with a baby girl

Mann is the first chief minister in the history of re-organised Punjab to become a father while in office. He is 51 years old.

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Punjab Chief Minister Bhaghwant Mann and his wife Gurpreet Kaur were blessed with a baby girl on Thursday. Mann took to X and posted that the Almighty has given him the gift of a daughter. He said both the mother and the girl are healthy. According to reports the baby was delivered at Fortis hospital Mohali.

Mann is the first chief minister in the history of re-organised Punjab to become a father while in office. He is 51 years old. He has 2 children with his ex-wife, who is now settled in Canada with the 2 children.  

Mann also shared the picture of his daughter in another post. Mann had married Kaur in 2022 after he separated from his first wife in 2015. His wedding was held at his residence in Chandigarh and was attended by select guests like Aam Aadmi Party supremo Arvind Kejriwal, MP Raghav Chadha.

The Punjab chief minister’s family members including his mother and his sister were also part of the wedding, which was carried out according to Sikh rituals. Comedian turned politician Bhagwant Mann became an MP from Sangrur for the first time when he won the 2014 Lok Sabha election on Aam Aadmi Party ticket.

His first wife Inderjit Kaur also campaigned for him during the elections. Before the Punjab assembly election the Aam Aadmi Party declared him as his CM face for Punjab. He won the elections with a thumping victory. Bhagwant Mann is the 17th chief minister of Punjab. Mann’s 2nd wife Gurpreet Kaur, born in 1993, is a doctor by profession and studied MBBS in Ambala. She hails from Pehowa town in Kurukshetra district. According to reports Gurpreet Kaur’s family and Mann’s family have known each other for a long time.

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Dera chief of Uttarakhand’s Nanakmatta Sahib Gurdwara shot dead within premises

Baba Tarsem Singh was hurried to a hospital in Khatima where he died during treatment.

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Dera chief of the Nanakmatta Sahib Gurudwara in Uttarakhand was shot dead within the premises of the shrine by two bike-borne assailants on Thursday. A CCTV footage showed the brutal killing of the dera chief of the Nanakmatta Sahib Gurdwara.

The footage shared by news agency PTI shows the dera chief sitting on a chair at around 6:30 am in the premises when two bike-borne assailants arrived and fired at him. Udham Singh Nagar, SSP, Manju Nath asserted that Baba Tarsem Singh was hurried to a hospital in Khatima where he died during treatment.

Notably, the Nanakmatta Sahib Gurdwara is a revered Sikh shrine situated on the Rudrapur-Tanakpur route in Udham Singh Nagar district of the state. Reportedly, the Uttarakhand Police has formed a special investigation team (SIT) to investigate the chilling murder. 

Furthermore, additional police personnel have been deployed in the Nanakmatta area of Udham Singh Nagar district to ensure peace. The police have also appealed to the Sikh community to maintain peace. The Police officials have also contacted central agencies to share useful input, and a massive search operation is underway to nab the culprits.

Uttarakhand Director General of Police (DGP) Abhinav Kumar said that they received information around 7 am on Thursday that between 6:15-6:30 am, two masked assailants entered Nanakmatta Gurdwara and shot Kar Seva Pramukh Baba Tarsem Singh. He added that the Dera chief was rushed to the hospital in Khatima, where he succumbed to his injuries.

The DGP mentioned that this is a very serious matter and that senior officials have reached the spot. He affirmed that DIG Kumaon will inspect the scene of the crime and speak to the locals. Furthermore, he will try to assess the situation there. Abhinav Kumar also mentioned that for investigation of the incident, Police Headquarters has formed an SIT, which will comprise officials of STF and local Police.

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