In Mumbai's Esplanade Court on 28 July 2021, Raj Kundra’s lawyer appealed for his bail by saying, “Is Raj Kundra a terrorist? Why is he not getting bail?” However, the court rejected the bail pleas of both Raj Kundra and his IT head Ryan Thorpe in connection with charges related to the alleged creation of pornographic films.  

Both of them have to remain in jail for another 14 days. Meanwhile, the Crime Branch has found that transactions worth crores were done from the joint account of Shilpa Shetty and Raj Kundra. This is why they appointed a financial auditor to investigate the money trail of the couple. The police are also probing whether money earned from the apps was being invested in bitcoins. Joint Commissioner of Police (Crime) Milind Bharambe said Kundra began to make porn videos for the HotShot App 18 months ago, but it flourished because of the lockdown and he began earning lakhs on a daily basis. While he initially earned Rs 2-3 lakh per day, the amount later increased to Rs 6-8 lakh daily. Apart from Hotshot, Kundra had another backup planned in case this app got banned. It was termed as 'Plan B, Bollyfame'. The victims in the porn racket case said that they were forced, threatened and raped while shooting the videos. However, Raj Kundra & his aides have denied all allegations.

Shilpa Shetty & her husband own a company called Viaan Industries. In 2015, Viaan Industries had given a total of 500,000 Equity Shares to 4 people. Of this, 128,800 equity shares each were allotted to Kundra & Shetty. SEBI said the value of the transaction was Rs 2.57 crore each. According to SEBI’s Rules, Shilpa & her husband had to inform the company about this. The company then has to inform the stock exchanges in two days. However, shilpa & raj informed the company & the stock exchange about this only in 2019. Which is why SEBI has imposed a penalty of Rs 3 lakh on both of them. 

Tags

• Shilpa
• shetty
• raj
• kundra
• sebi
• fine
• 3lakh
• ba

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