Sulabh Engineers and Services Limited has issued an updated policy for the procedure of inquiry in case of leaks or suspected leaks of Unpublished Price Sensitive Information (UPSI). This revised policy aims to strengthen internal controls, prevent unauthorized sharing of critical company data, and ensure prompt action in line with regulatory requirements. The updated policy was reviewed and approved by the Board of Directors.
Sulabh Engineers and Services Limited Enhances UPSI Leak Inquiry Policy
Sulabh Engineers and Services Limited has announced an updated policy concerning the procedure for investigating leaks or suspected leaks of Unpublished Price Sensitive Information (UPSI). This proactive measure is designed to bolster the company’s internal control systems and ensure robust compliance with regulatory mandates.
Policy Objectives and Scope
The revised policy, framed pursuant to Regulation 9A(5) of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, seeks to establish a clear and uniform code for handling UPSI. Key objectives include preventing the unethical practice of sharing UPSI by insiders and designated persons, and constituting a committee empowered to conduct inquiries and report findings to regulatory authorities. The policy’s scope covers all Directors, Promoters, Designated Persons, Insiders, Connected Persons, and any other individual with access to UPSI.
Inquiry Process and Disciplinary Actions
The updated procedure outlines the steps for taking cognizance of potential UPSI leaks, conducting preliminary and final inquiries, and reporting to the Audit Committee and the Board of Directors. In cases where a leak is confirmed or suspected, the company may initiate disciplinary actions, including but not limited to wage freezes, suspension, recovery, claw back, or termination, as deemed necessary by the Board. The policy also mandates prompt intimation to Stock Exchanges and SEBI in the event of actual or suspected leaks.
Commitment to Compliance
Sulabh Engineers and Services Limited emphasizes its commitment to maintaining the highest standards of corporate governance and transparency. The amended policy is a testament to the company’s dedication to safeguarding sensitive information and upholding investor confidence in line with prevailing laws and regulations. The policy will be hosted on the company’s website and will be revised as necessary.
Source: BSE
