Kaynes Technology confirms the issuance of a Settlement Order by the Adjudicating Officer concerning its former Managing Director, Mr. Ramesh Kunhikannan. The order resolves proceedings related to alleged violations of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The resolution involved a monetary penalty of ₹23,42,600, which was paid by the Noticee personally, resulting in no material financial impact on the company’s operations.
Resolution of Regulatory Proceedings
Kaynes Technology India Limited has disclosed the conclusion of regulatory proceedings initiated against its former Managing Director, Mr. Ramesh Kunhikannan. Following a Show-Cause Notice received on March 11, 2025, Mr. Kunhikannan opted to pursue the settlement procedure under applicable regulations.
The Adjudicating Officer of the Securities and Exchange Board of India subsequently issued a Settlement Order on March 27, 2026. The adjudication process was initiated and disposed of based on agreed settlement terms.
Details of Alleged Contravention
The original proceedings concerned the alleged violation of Regulation 3(5) under Chapter II of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The settlement resolved these allegations.
Financial Implication for the Company
A key outcome of the order is a penalty imposed on the Noticee amounting to ₹23,42,600. It is explicitly noted that this penalty was settled using the Noticee’s personal account. Consequently, the company confirms that there is no material impact on the financials, operations, or other activities of Kaynes Technology India Limited due to this order.
Source: BSE
