Endurance Technologies has reported a violation of its Code of Conduct for the prevention of insider trading by a designated person, Mr. Prajod Parameswaran Ayyappath, Head of R&D Transmission. The company disclosed that Mr. Ayyappath purchased two shares for ₹5,484.60 on 25th September 2025 and sold two shares for ₹4,939.20 on 10th March 2026, constituting a contra-trade within six months, which is against the company’s insider trading policy.
The company has taken action by issuing a letter to Mr. Ayyappath on 18th March 2026, advising him to pay a penalty of ₹10,000 and to ensure strict adherence to the Code of Conduct. Endurance Technologies stated that the contra-trade was executed through oversight, but this was not considered a justifiable reason for the violation.
The penalty amount has been transferred to the SEBI-Investor Protection and Education Fund (IPEF) through an online payment. The transaction was completed via ICICI Bank with a transaction reference number 260320263698484 on 20th March 2026.
Endurance Technologies confirmed that there have been no previous instances of such violations since the last financial year. The company emphasised its commitment to maintaining strict compliance with regulatory requirements and its internal Code of Conduct.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).