According to the filing, both B Ravi and Karan Adani have paid a settlement amount of Rs 13.65 lakh each.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.The proceedings related to PMC Projects (India) Pvt Ltd, Adani Ports and its subsidiaries. Ravi and Karan Adani proposed to settle the proceedings concerning alleged violations of Regulation 17(8), without admitting or denying the findings of facts and conclusions of law, the company said.
"There is no financial impact to the company arising out of this settlement order," Adani Ports said.
In a separate development, Adani Ports recently said it had emerged as the highest bidder and received the Letter of Award (LoA) for the development and operation of two dry bulk berths at Paradip Port in Odisha.
Shares of Adani Ports were trading 0.07 per cent lower at Rs 1,756.40 in Friday's trade.
