Zuari Agro settles SEBI case for ₹1.2 Cr; Officials face trading ban

• Zuari Agro Chemicals Limited (ZACL) settled adjudication proceedings with SEBI for alleged financial misrepresentation and related-party transaction violations.
• ZACL will pay ₹1.2 crore and face a 3-month voluntary debarment from the securities market; the settlement is without admission or denial of guilt.
• MD Sunil Sethy and CFO R K Gupta will each pay ₹73.12 lakh and face a 4-month debarment; WTD Nitin Manguesh Kantak and CS Vijayamahantesh Khannur will pay ₹12.67 lakh each.
• Allegations included under-reporting losses, misrepresenting FY20 financials, and unapproved related-party transactions worth ₹811.33 crore with Paradeep Phosphate Limited.
• SEBI approved the settlement on March 5, 2026, after a lengthy review process, disposing of the proceedings under Section 15JB of the SEBI Act.