Adani Ports and Special Economic Zone Ltd (APSEZ) officials settle Securities and Exchange Board of India (SEBI) proceedings in connection with the PMC Projects (India) Private Limited case. Business Line and Economic Times report that APSEZ Managing Director Karan Adani and former CFO B Ravi each pay ₹13.65 lakh to settle the matter.
The settlement relates to SEBI’s investigation into banking transactions and inter-corporate security deposits involving PMC Projects (India) Private Limited, APSEZ, and APSEZ subsidiaries. Economic Times frames the case around the movement of funds through banking channels and the handling of security deposits between companies, while Business Line focuses on the settlement outcome and the amounts paid by the two executives.
Across the reports, the common point is that the proceedings are resolved through a mutual settlement with SEBI, with no additional penalties or additional payments reported in the provided excerpts.
