Adani Ports and Special Economic Zone Limited has agreed to pay a settlement amount of ₹37,05,000 to the Securities and Exchange Board of India (SEBI). This payment resolves proceedings related to alleged violations of listing regulations and the Securities Contracts (Regulation) Rules, 1957.

The settlement order was passed under the SEBI (Settlement Proceedings) Regulations, 2018. It involves the company, its directors Gautam S. Adani and Rajesh S. Adani, and erstwhile directors Malay Mahadevia, Rajeeva Ranjan Sinha, and Sudipta Bhattacharya. The resolution was reached without any admission or denial of the findings of fact or conclusions of law by the involved parties.

Scope of Alleged Violations

The regulatory action pertained to specific breaches identified by SEBI. The alleged non-compliances included:

• Rule 19A of the Securities Contracts (Regulations) Rules, 1957.
• Clauses 35 and 40A of the erstwhile Listing Agreement.
• Regulations 31 and 38 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
• Section 27(1) of the SEBI Act, 1992.
• Section 24(1) of the Securities Contracts (Regulation) Act, 1956.

Financial Impact Assessment

The company disclosed that the total settlement amount is ₹37,05,000. This figure covers the liabilities for both the corporate entity and the named directors. Adani Ports stated that there is no material financial impact on the company arising from this settlement order.

Regulatory Context

The disclosure was made pursuant to Regulation 30 of the SEBI Listing Regulations, which mandates timely reporting of material events. The settlement order serves as a mechanism to conclude enforcement proceedings where the regulator accepts a negotiated resolution. By settling, the parties avoid protracted litigation while maintaining their stance on the legal interpretations of the cited rules.

Adani Ports & Special Economic Zone Limited disclosed a Securities and Exchange Board of India settlement order involving its top executives. The regulator passed the order on September 10, 2026, regarding alleged disclosure violations.

The settlement concerns Mr. B. Ravi, former Chief Financial Officer, and Mr. Karan Adani, Managing Director. They filed applications under the SEBI (Settlement Proceedings) Regulations, 2018. The proceedings related to alleged violations of Regulation 17(8) read with Paragraph B of Part B of Schedule II of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. This was read with Section 21 of the Securities Contracts (Regulation) Act, 1956.

Settlement Details

Both executives paid a settlement amount of ₹13.65 lakh each. The filings state that they settled by neither admitting nor denying the findings of facts and conclusions of law. The company confirmed receipt of the communication from SEBI on September 10, 2026.

Financial Impact

Adani Ports stated that there is nil financial impact on the company arising out of this settlement order. The amounts were paid by the individuals concerned. No further action or penalty restrictions were imposed on the listed entity itself.

What the Numbers Show

The settlement involves personal liability for the executives rather than corporate penalty. With both parties paying identical amounts of ₹13.65 lakh, the financial exposure is contained to individual accounts. This structure isolates the regulatory cost from the company’s balance sheet, preserving reported earnings.