Waaree Energies Limited has submitted a report concerning a violation of its Code of Conduct for the Prevention of Insider Trading. The violation involved a Designated Person, Mr. Ankit Ozarker, whose pledged shares were invoked by a financial institution on July 8, 2026, due to a margin shortfall. The company has issued a written warning to Mr. Ozarker, emphasizing the need for strict compliance with regulations and internal codes.
Company Reports Insider Trading Code Violation
Waaree Energies Limited has officially notified the stock exchanges regarding a violation of the Company’s Code of Conduct for Prevention of Insider Trading. This report, dated July 29, 2026, details an incident involving a Designated Person (DP) and its implications under the SEBI (Prohibition of Insider Trading) Regulations, 2015.
Details of the Incident
The violation stems from the invocation of 149 equity shares pledged by Mr. Ankit Ozarker, General Manager, on July 8, 2026. The shares, valued at approximately Rs. 4.21 lacs, were invoked by the financial institution due to a shortfall or non-payment of the margin requirement. This event occurred during a trading window closure period.
Action Taken by the Company
In response to the incident, Waaree Energies Limited has taken corrective action. The company has issued a written warning to Mr. Ankit Ozarker. The warning serves to ensure necessary precaution and strict adherence to maintaining adequate margin money for pledged shares. Furthermore, it emphasizes the importance of ensuring strict compliance with both the Company’s Code of Conduct and the SEBI PIT Regulations.
Reasons for Warning
The company’s decision to issue a warning was based on several considerations. These include the fact that the invocation of pledged shares was triggered by a margin requirement issue under a loan arrangement. Crucially, the invocation was not initiated as a voluntary trade by the designated person. The quantity of shares involved was deemed immaterial, and there was no apparent intention to violate the provisions of the SEBI (Prohibition of Insider Trading) Regulations. The company has confirmed that there were no previous instances of violations of this nature.
Designated Person Details
Mr. Ankit Ozarker, the Designated Person involved, holds the position of General Manager and his functional role is in Production Planning. His PAN is AANPO5059Q. He is not a promoter or part of the promoter group.
Source: BSE
