Contra trade by a designated employee reported as Code of Conduct violation; warning letter issued
A designated employee (Assistant Vice-President – Design, not a promoter) did a contra trade in the company's shares.
By ScoutQuest · · 1 min read
- Employee Name
- Mr. Manoj Chaturvedi, Assistant Vice-President – Design
- Buy Trade
- 100 shares at ₹462.7 on 12.08.2026
- Sell Trades
- 50 shares at ₹455 on 27.08.2026; 50 shares at ₹455.55 on 11.09.2026
- Total Traded Value
- Less than Rs. 10 Lakhs in calendar quarter
- Action Taken
- Warning letter issued; no previous violations since last financial year
What happened
The company reported to BSE and NSE that one of its designated persons breached its internal Code of Conduct for Prohibition of Insider Trading.
The person is Mr. Manoj Chaturvedi, Assistant Vice-President (Design). He is not a promoter and does not belong to the promoter group.
The trades involved
- Buy: 100 shares at ₹462.7 on 12.08.2026
- Sell: 50 shares at ₹455 on 27.08.2026
- Sell: 50 shares at ₹455.55 on 11.09.2026
Buying and then selling (or vice versa) within six months is a "contra trade" or reverse transaction, which the code does not permit for designated persons, regardless of whether any price-sensitive information was used.
Why the value matters
The total traded value was less than Rs. 10 Lakhs in the calendar quarter, so separate intimation under Regulation 7 was not applicable.
Action taken
The company issued a warning letter asking him to strictly follow the SEBI (PIT) Regulations and the company's code to avoid action for any future violation. No amount was collected for the violation.
The company recorded no previous instances of such violations since the last financial year.
How to read this
This is a procedural compliance disclosure of a small-value trade by an employee, made in the reporting format SEBI prescribes. It concerns individual conduct rather than the company's business, orders or financial performance.
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More numbers
- Shares bought on 12.08.2026100
- Buy price462.7
- Shares sold on 27.08.202650
- Sell price 27.08.2026455
- Shares sold on 11.09.202650
- Sell price 11.09.2026455.55
- Quarterly trade value threshold not crossedRs. 10 Lakhs
- Contra trade restriction periodSix months
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