Kaynes Technology India Ltd's Managing Director Settles Show-Cause Notice with SEBI

Kaynes Technology India Ltd has informed about the settlement procedure initiated by its then Managing Director, Mr. Ramesh Kunhikannan, against a show-cause notice received from SEBI. The Adjudicating Officer of SEBI passed a Settlement Order under the provisions of SEBI (Settlement Proceedings) Regulations, 2018. The Order was passed based on the violation of Regulations 3(5) under chapter II of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The Noticee paid a penalty of Rs. 23,42,600, which was paid from his personal account, hence there is no material impact on the financials or operations of the Company.