Mumbai, July 20 | Businessman Raj Kundra, husband of actress Shilpa Shetty, has made it to the headlines for the wrong reason once again. He was arrested on Monday night on charges of creating pornographic content. However, this is not the first time that Kundra has found himself in the middle of a scandal.
While the Commissioner of Police said in a statement that they have enough evidence to arrest Kudra in the current case, he has had run-ins with the law earlier as well, in cases of fraud.
IANS takes a look at his controversies of the past.
The former co-owner of the Indian Premier League (IPL) team Rajasthan Royals was banned for life from cricket after being accused of betting. Kundra and the former ICC chief N. Srinivasan’s son-in-law Gurunath Meiyappan were found guilty of betting. However, Kundra had filed a petition in Supreme Court in 2018 after Delhi Police had given him a clean chit.
CHEATING TEXTILE COMPANY
In 2017, a textile company accused Kundra of cheating them of Rs 24 lakh. In the complaint filed, the textile company said that the money collected by Raj Kundra and his wife, actress Shilpa Shetty, in the name of the particular company, was never given to them. The Police had filed a complaint against him.
In 2018, Raj was allegedly involved in the Bitcoin Scam. As per the Pune crime branch, some Bollywood actors were promoting an illegal scam to invest money in Bitcoin. A lot of money was recovered after the police came down heavy on this racket. It is said that as much as Rs 2 thousand crore was recovered.
UGLY SPAT WITH EX-WIFE
Raj Kundra in a recent interview to an entertainment portal alleged that his ex-wife Kavita was having an affair with his former brother-in-law. His statement came after his ex-wife accused Shilpa Shetty to be the reason behind their separation.
The Indian market recovered sharply on the last trading day amid the weekend after a continuous fall. Market has managed to halt above 16000 Nifty levels after continuous losing streak. Index reacted violently, grasping Indian as well as global factors throughout the week. Simultaneously, Inflation is catching up and profit margins are taking a hit.
Sensex advanced 1532 points or 2.90 percent while Nifty gained 484 points or 3.07 percent in a week. Simultaneously, Bank nifty has overcome bear’s dominance ending the session with 3.49 percent gain. Sectorally,Nifty Metal saw the highest gains of 7.40 percent followed by the Realty and Auto added over 4% gain. On the flip side Nifty IT tumbled 2.82 percent on weekly basis. Midcap and Small Cap measures rising nearly 2 percent as well.
In Nifty stock, EICHERMOT gained 11.31% while TECHM lost 5.98% on a weekly basis. INDIA VIX closes at 23.10 suggests volatility driven market is going to remain intact. Coming to the OI Data, on the call side highest OI witnessed at 17000 Nifty followed by 16800 Nifty strike price while on the put side, the highest OI was at 16000 Nifty followed by 15800 Nifty strike price. Technically, Nifty has formed a Tweezer Bottom type pattern in the weekly chart suggesting a short term buying rally may drive the market until monthly expiry. On the daily chart, price has rebounded from the lower Bollinger band as well.
Momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone. However, Index is still struggling to get the support of 50 Simple Moving Average in daily chart. Short term investors and traders are advised to work with option strategies to neutralize the volatility. Overall, Nifty is having support at 15700 mark while on the upside 16700 followed by 16500 may act as an immediate resistance. While Bank nifty has support around 32500 while resistance is placed at 36000 on weekly chart.
Source: Choice India