Deepak Nitrite Limited has formally announced an amendment to its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI). This update, executed in compliance with current market regulations, incorporates recent amendments concerning the SEBI (Prohibition of Insider Trading) Regulations, 2015. A copy of the revised Code of Fair Disclosure is now available on the company’s official website, www.godeepak.com, for public reference.
Company Announcement Regarding Disclosure Code
Deepak Nitrite Limited issued an official communication on February 12, 2026, concerning revisions to its internal governance framework. The primary subject of the update is the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (referred to as the “Code of Fair Disclosure”).
Regulatory Compliance and Amendments
The amendment process was undertaken pursuant to market mandates, specifically integrating the latest revisions made to the SEBI (Prohibition of Insider Trading) Regulations, 2015. These revisions aim to ensure the company’s disclosure practices remain current and fully compliant with the overarching regulatory environment.
Key Definitions Under the Revised Code
The document details crucial definitions, including Unpublished Price Sensitive Information (UPSI), which broadly covers any information relating to the Company or its securities that is not generally available and which, if made public, would likely affect the price of the securities. Examples of UPSI include:
- Financial results and dividends.
- Mergers, de-mergers, acquisitions, and restructurings.
- Initiation or outcome of significant litigation or forensic audits.
- Fund-raising proposals or agreements impacting management control.
Furthermore, the concept of “Legitimate purpose” is defined, covering the sharing of UPSI in the ordinary course of business with necessary parties such as partners, lenders, legal advisors, and auditors. Any recipient obtaining UPSI for a legitimate purpose is deemed an “Insider” and must adhere to strict confidentiality mandates.
Operational Changes in Disclosure and Maintenance
The Code outlines specific procedures for fair disclosure, ensuring that UPSI is disseminated promptly, typically through stock exchanges and the company website, www.godeepak.com. Key procedural elements now include:
- The Chief Investor Relations Officer (CIRO) is responsible for ensuring prompt public disclosure and dissemination of UPSI, making sure that no selective disclosure occurs.
- The CIRO must maintain a structured digital database of all persons or entities with whom UPSI is shared, ensuring non-tampering through time stamping and audit trails.
- Any person receiving UPSI must be formally notified of their duties regarding confidentiality and the potential liability attached to misuse.
Disclosures and Future Amendments
The finalized Code, including any future amendments, shall be published on the Company’s official website and promptly intimated to the relevant stock exchanges. The Board of Directors retains the authority to lay down further principles to ensure the continued fair disclosure of Unpublished Price Sensitive Information.
Source: BSE
