Garware Hi-Tech Films reported a violation of its Code of Conduct related to insider trading. An immediate relative of a former connected person executed contra trades. The company’s Audit Committee imposed a penalty of Rs. 10,000 for the violation. The individual confirmed that the trade was inadvertent and not based on any unpublished price-sensitive information.
Violation of Insider Trading Regulations
Garware Hi-Tech Films has identified a violation of its Code of Conduct under the SEBI (Prohibition of Insider Trading) Regulations, 2015. The violation involved an immediate relative of a former connected person. This report details the findings and actions taken by the company.
Details of the Violation
The violation occurred when Mrs. Komal Jagdish Vishwakarma, an immediate relative of Mr. V Sasidharan (who ceased employment on October 4, 2025), executed contra trades in the company’s shares. The trades involved the following transactions:
- Purchase of 25 shares on September 19, 2025, for Rs. 3384.00
- Purchase of 10 shares on September 26, 2025, for Rs. 3014.35
- Sale of 35 shares on November 21, 2025, for Rs. 4048.25
Company Action
The Audit Committee reviewed the matter and imposed a penalty of Rs. 10,000. It was clarified that the person has confirmed that the default was inadvertent and was not based on any access to or use of any Unpublished Price Sensitive Information (UPSI). The amount was deposited to SEBI – IPEF account by Mrs. Komal Jagdish Vishwakarma on February 4, 2026.
Source: BSE
