Kaynes Technology India has announced the resolution of a regulatory issue with the Securities and Exchange Board of India (SEBI), as the former Managing Director, Mr. Ramesh Kunhikannan, initiated a settlement procedure. The settlement comes in response to a show-cause notice issued by SEBI on 11th March 2025, concerning alleged violations of insider trading regulations.
The SEBI Adjudicating Officer issued a Settlement Order under the SEBI (Settlement Proceedings) Regulations, 2018, which was received on 27th March 2026. The order was based on the settlement terms agreed upon under Section 15JB of the SEBI Act, read with Regulation 23(1) of the Settlement Regulations.
The alleged contraventions pertained to violations of Regulations 3(5) under Chapter II of the SEBI (Prohibition of Insider Trading) Regulations, 2015. As part of the settlement, Mr. Kunhikannan paid a penalty of ₹23,42,600 from his personal account, ensuring that there is no material impact on the financials, operations, or other activities of Kaynes Technology.
This development follows the company’s commitment to resolving regulatory issues expediently and transparently. The details of the settlement and its implications have been made available on the company’s official website.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).