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SEBI Nails Raj Kundra and Shilpa Shetty for Distributing Pornography; No Bail For Kundra


MUMBAI — Bad news continues unabated for embattled Raj Kundra and his actress wife Shilpa Shetty. Market regulator SEBI imposed a penalty of Rs 3 lakh on the couple and their company Viaan Industries for contravening insider trading rules.
Kundra, Shetty and Viaan have been fined for a three-year delay in the disclosure of an allotment of preferential shares.
In 2015, Viaan Industries had made a preferential allotment of 500,000 equity shares. Of this 128,800 equity shares each were allotted to Kundra (referred to as Ripu Sudan Kundra) and Shetty, the promoters of the company.
According to SEBI s Prohibition of Insider Trading Rules, 2015, the promoters had to disclose this transaction to the company within two days if it exceeded Rs 10 lakh in value. The company, in turn, has to relay this disclosure to the stock exchanges within two trading days. ....

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Raj Kundra's bail plea rejected by a Mumbai court


CineBlitz
The next hearing is scheduled for Thursday.
Published 13 hours ago
Raj Kundra
Businessman Raj Kundra and his associate Ryan Thorpe will remain in jail till August 10 as a Mumbai court refused to grant bail. The two were arrested by the crime branch of Mumbai Police on July 19. Kundra had contended that his arrest was illegal and had filed a separate petition in the Bombay High Court challenging his arrest.
He had appealed to quash all the orders of the Metropolitan Magistrate Court remanding him to police and then judicial custody. The next hearing is scheduled for Thursday. Trouble seems be to mounting for Kundra as SEBI has imposed a penalty of Rs 3 lakh on Viaan Industries for violating insider trading rules. ....

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Porn case: Mumbai Magistrate declines bail to Raj Kundra - INDIA New England News


INDIA New England News
Mumbai–A Mumbai court Chief Metropolitan Magistrate, S.B. Bhajipale, on Wednesday refused to grant bail to businessman Raj Kundra and his associate Ryan Thorpe in the case pertaining to alleged production and distribution of porn content.
Accordingly, Kundra, a British national who was arrested by the Mumbai Police on July 19, will remain in judicial custody till August 10, as ordered by the magistrate court on Tuesday.
Kundra, through senior advocate Abad Ponda, had filed a separate petition in the Bombay High Court challenging his arrest, which he contended was ‘illegal’, and appealed to quash all the orders of the Metropolitan Magistrate Court remanding him to police and then judicial custody. ....

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