BLACK BOX has revised its Code of Conduct for the Prevention of Insider Trading and Fair Disclosure of Unpublished Price Sensitive Information. The updated code, adopted on November 12, 2025, aims to enhance transparency and fairness in securities trading, ensuring compliance with SEBI regulations and promoting investor confidence. The revised code came into effect on January 1, 2023.
Revised Code of Conduct Overview
BLACK BOX Limited has announced revisions to its Code of Conduct for Prevention of Insider Trading and Fair Disclosure of Unpublished Price Sensitive Information. This update, effective from January 1, 2023, reflects the company’s commitment to maintaining the highest standards of corporate governance.
Key Highlights of the Revision
The primary objective of the revised code is to ensure fair practices in the handling and disclosure of unpublished price-sensitive information (UPSI). BLACK BOX emphasizes the importance of preventing insider trading and protecting investor interests. The Board of Directors formally adopted the revised code during a meeting held on November 12, 2025.
Fair Disclosure Principles
The revised code focuses on several key principles:
- Ensuring prompt and universal dissemination of UPSI to avoid selective disclosure.
- Uniform handling of information to maintain equality among investors.
- Fair and appropriate responses to queries and market rumors.
- Handling UPSI on a strict need-to-know basis.
Insider Regulations
BLACK BOX considers individuals in receipt of UPSI due to legitimate purposes as insiders, requiring them to maintain strict confidentiality. The company maintains a structured digital database with the names of individuals and entities that UPSI is shared with, along with their Permanent Account Number (PAN) or another authorized identifier.
IT Portal and Trading Procedures
An online IT portal facilitates the submission of applications for pre-clearance and the reporting of trades by insiders. The portal also helps maintain a digital database of individuals with whom UPSI is shared. The company has established policies to conduct inquiries in case of leaks or suspected leaks of UPSI.
Code of Conduct for Trading
The internal code of conduct governs the trading of securities by designated persons and their immediate relatives. This includes provisions for formulating trading plans and restrictions on trading during certain periods.
Source: BSE
