Kalyani Steels Limited and its Company Secretary, Mrs. D.R. Puranik, have finalized a settlement with the Securities Board concerning alleged violations related to reporting requirements. Both parties paid stipulated settlement amounts totaling ₹28.02 million for the company and ₹9.55 million for the Secretary. The resolution, effective February 23, 2026, closes the matter without admitting guilt, resulting in no further implications for the company’s ongoing operations.
Regulatory Settlement Finalized
Kalyani Steels Limited announced on February 23, 2026, that it has received a formal Settlement Order from the Securities and Exchange Board (SEBI). This order concludes proceedings initiated against both the Company and the Company Secretary, Mrs. D.R. Puranik. The settlement agreement was executed under the relevant regulations governing settlement proceedings.
Alleged Contraventions Detailed
The underlying issues pertained to alleged breaches of various clauses within SEBI circulars and regulations concerning disclosure requirements. Specifically, the settlement addressed alleged violations pertaining to Regulation 103 of the LODR Regulations and Section 21 of the Securities Contracts (Regulations) Act, 1956 (SCRA), across multiple specific clauses within the circulars dating back to 2004 and 2014.
Violations Attributed to the Company Secretary
Mrs. D. R. Puranik, Company Secretary, was cited for alleged non-compliance with Regulation 6(2)(a), (b), and (c) of the LODR Regulations read with Section 21 of the SCRA.
Financial Impact of Settlement
As part of resolving the matter, both parties have paid the required monetary consideration. Kalyani Steels Limited paid a settlement amount of ₹28,022,150/-. Additionally, Mrs. D.R. Puranik paid a separate settlement amount of ₹9,555,000/-. The company confirmed that, aside from these payments, there are no other quantifiable monetary impacts or implications arising from the Settlement Order on the company’s financial or operational activities.
Source: BSE
