Zuari Agro Chemicals Settles with SEBI, Pays INR 1.19 Crores and Voluntarily Debars for 3 Months

Zuari Agro Chemicals Ltd. has settled a case with the Securities and Exchange Board of India (SEBI) and paid a penalty of INR 1.19 crores. The company, along with its director, Mr. Nitin M. Kantak, was allegedly in violation of various regulations under the SEBI (Listing Obligation Requirements) Regulations, 2015, SEBI Act 1992, and SEBI (Prohibition of Fraudulent and Unfair Trade Securities Market) Practices relating to Regulations, 2003. As part of the settlement, Zuari Agro Chemicals Ltd. has voluntarily debarred itself from buying, selling, or trading in securities market for a period of 3 months.