UPL, chairman Jaidev Shroff settle case with Sebi over trading violations, pay Rs 20.2 crore

United Phosphorous Ltd and its chairman Jaidev Shroff have settled with Sebi by paying ₹20.2 crore. Sebi's investigation revealed that the company, with Shroff's assistance, misrepresented shareholding and routed funds via overseas accounts to trade in its own shares, making a wrongful gain of ₹4.2 crore.