SEBI Penalised Raj And Shilpa Shetty’s Company Viaan Industries

Raj Kundra and Shilpa Shetty’s company Viaan Industries comes under SEBI’s scanner for the same SEBI has imposed fine against company for disclosure lapses.

According to report SEBI imposed monetary penalty against Viaan industries limited. Fine that SEBI imposed on company is around 3 lakhs.

According to report SEBI order goes like this
a probe conducted between September 2013- December 2015 to ascertain violation of Prohibition of Insider Trading (PIT) norms by the entities.In October 2015, Viaan Industries made a preferential allotment of 5 lakh equity shares to four persons and 1,28,800 lakh shares each, amounting to Rs 2.57 crore each, were allotted to Ripu and Shilpa in the allotment. In this regard, they were required to make timely requisite disclosure to the company in terms of PIT norms since the transactions exceeded Rs 10 lakh in value. “It is on record that the relevant disclosures under the PIT Regulations were made by the Noticees with a delay of more than three years,”. “Therefore, considering these facts and circumstances, I hold that this case deserves imposition of monetary penalty upon the Noticees,” said adjudicating officer Suresh B Menon in an order. Noticees refer to Viaan Industries, Shilpa Shett Kundra and Ripu Sudan Kundra. Shilpa and Ripu are the promoters of the firm. Viaan Industries was formerly known as Hindustan Safety Glass Industries Ltd.

Well going through above news it seems Shilpa is also stucking in big trouble.