Mumbai, Sept. 29 -- Lloyds Enterprises Ltd and two of its senior executives have settled a case with the Securities and Exchange Board of India (Sebi) for a combined Rs.4.16 crore over alleged violations involving Rs.144.82 crore of company funds and related-party disclosures.

According to a settlement order issued on Tuesday, Lloyds Enterprises has paid Rs.1.28 crore, while former managing director Rajesh Rajnarayan Gupta and chief financial officer Viresh Shankar Sohoni have each paid Rs.1.44 crore. The applicants settled the proceedings while not admitting guilt.

The case followed an alert received by Sebi from stock exchange BSE on 21 November 2023 concerning irregularities in advances reported by Lloyds Enterprises, which has sever...