Zuari Agro Chemicals Settles SEBI Case, Pays Rs 2.91 Crore; Officials Face Trading Bans

Zuari Agro Chemicals Ltd settled a case with SEBI over allegations of misrepresenting financial statements for FY2019-20, including under-reporting losses and improper recording of investment impairment. The company and four senior officials paid a total of Rs 2.91 crore in settlement without admitting wrongdoing. SEBI also noted lapses in approvals for related-party transactions worth Rs 811.33 crore and imposed voluntary trading bans on the officials involved as part of the settlement terms.