Kalyani Steels Ltd. and Company Secretary Settle Violations with SEBI, Paying Hefty Penalties

Kalyani Steels Ltd. and its Company Secretary, Mrs. D.R. Puranik, have received a Settlement Order from the Securities and Exchange Board of India (SEBI) on February 23, 2026, in relation to various alleged violations. The violations include non-compliance with SEBI Circulars, LODR Regulations, and the Securities Contracts (Regulations) Act, 1956. Kalyani Steels Limited has been charged with violating Clause 49(VII)(D), Regulation 23(2), Clause 49(IV)(A)(i), Clause 49(VII)(E), and Clause 49(VII)(A)(1) of the respective regulations. Mrs. D.R. Puranik was charged with violating Regulation 6(2)(a), (b), and (c) of the LODR Regulations. Both parties have agreed to pay settlement amounts of ₹ 28,022,150 and ₹ 9,555,000 respectively. There are no other financial, operational, or other implications for the company arising from this Settlement Order.