Contra trade by designated person reported; Rs. 5,000 penalty imposed

Garware Hi-Tech Films has reported a violation of its Code of Conduct under SEBI (Prohibition of Insider Trading) Regulations, 2015 by Mr. Ashok Narayan Dane, General Manager (Production).

Sat 10 Oct 2026

Shares Bought

16 equity shares bought for ₹ 54704.10/-

Shares Sold

26 equity shares sold for ₹1,14,796.85/-

Penalty Imposed

Rs. 5,000/- deposited to SEBI – IPEF account

What happened

Garware Hi-Tech Films has reported a violation of its own Code of Conduct under the SEBI (Prohibition of Insider Trading) Regulations, 2015 to BSE and NSE. The person named is Mr. Ashok Narayan Dane, whose designation is General Manager and functional role is Production. The update records that he is a designated person and does not belong to the promoter or promoter group.

The trades

• Between December 5, 2025 and May 15, 2026, 16 equity shares were bought for ₹ 54704.10/-.
• In the same period, 26 equity shares were sold for ₹1,14,796.85/-.
• The update states the weekly closing price was taken for calculating the value of the transactions.
• The violation is described as a contra trade: the designated person traded during the six-month period after a previous buy, which the Code of Conduct does not permit. The contra trade was executed for 16 shares.
• The intimation dates sought under the head relating to trades above Rs.10 lacs in a calendar quarter are recorded as NA.

What the company did

• The matter was placed before the Audit Committee at its meeting held on August 06, 2026.
• The committee imposed a penalty of Rs. 5,000/-.
• An amount of Rs 5,000/- has been deposited to the SEBI – IPEF account by Mr. Ashok Narayan Dane. The mode of transfer is recorded as online and the transaction amount is Rs. 5,000/-.
• The committee also warned him not to repeat the same in future.
• The reasons recorded: he is an employee of the company, and he confirmed in writing that the default was inadvertent, without any deliberate intention to contravene the company's Code of Conduct or the applicable SEBI (PIT) Regulations, 2015, and that the trade was not based on access to or use of any Unpublished Price Sensitive Information. The update adds that these actions nevertheless constitute a violation of the Code of Conduct and the SEBI (PIT) Regulations, 2015.
• The update records the previous instances of violations since the last financial year as None.

How to read this

• This is a disciplinary disclosure about one employee's breach of the trading rules, not a update about the company's business or financial performance.
• The numbers involved are small: the trades are in share counts of 16 and 26, the corresponding values are ₹ 54704.10/- and ₹1,14,796.85/-, and the penalty is Rs. 5,000/-.
• The update states the trades were not based on access to or use of unpublished price sensitive information, and the penalty amount has been deposited to the SEBI – IPEF account.
• The perception this can create is of a compliance process being followed and the breach being reported, with the financial amounts involved being small.

Key figures at a glance

• Shares bought: 16 equity shares for ₹ 54704.10/-
• Shares sold: 26 equity shares for ₹1,14,796.85/-
• Shares in the contra trade: 16 shares
• Penalty imposed and deposited: Rs. 5,000/-

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