SEBI accepts the settlement application from Zuari Agro Chemicals and director Nitin M. Kantak.
Vanshika verma | Mar 6, 2026 |
Company Pays Rs. 1.19 Crore to SEBI, Agrees to 3-Month Market Ban
Zuari Agro Chemicals Limited, a prominent Indian agricultural solutions provider and the flagship company of the Adventz Group, recently issued a disclosure to BSE Ltd and NSE Ltd regarding receipt of a settlement order through e-mail on March 5, 2026.
Background of the case
Zuari Agro Chemicals Limited and its director, Nitin M. Kantak, were involved in a regulatory matter with the Securities and Exchange Board of India (SEBI).
To resolve the issue, both the company and the director filed settlement applications under the SEBI (Settlement Proceedings) Regulations, 2018.
On March 5, 2026, SEBI issued Settlement Order No. SO/AK/GN/2025-26/8384–8388 regarding these applications. Through this order, SEBI formally accepted the settlement and resolved the case according to the terms agreed upon.
Key details of violations
| Particular | Details |
| Violations by Zuari Agro Chemicals Ltd | 1. Regulation 4(1) (a), (b), (c), (d), (e), (g) (h), (i), (j), 4(2)(e)(i), 23 (2), 23 (4) and 48 of SEBI Regulation 2015. 2. Section 12A (a), (b), (c) of SEBI Act 1992 and Regulation 3(b), (c), (d), 4(1), 4(2)(f), (k) of SEBI Regulation 2003. |
| Violations by Mr. Nitin M. Kantak | Regulations 23(2) and 23(4) of SEBI Regulation 2015 |
Impact on the Company
The company added that it has paid Rs 11,992,500 to SEBI as part of a settlement. The company has voluntarily agreed not to buy, sell, or trade in the securities market for 3 months.
Company’s Disclosure Compliance
The company made the above disclosure under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015.
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