Zydus Lifesciences Limited has reported a violation of the Code of Conduct under the SEBI (Prohibition of Insider Trading) Regulations, 2015. The breach involved a designated person, Mr. Debtaru Upadhyay, who inadvertently executed a contra trade in the company’s equity shares.
The incident occurred on 13 March 2026, when Mr. Upadhyay, serving as General Manager in the marketing department, sold 10 equity shares at ₹902.70 each, totalling ₹9,027. This action was deemed a violation of regulation 9, read with clause 10 of Schedule B of the SEBI PIT Regulations, as well as the company’s internal Code of Conduct.
In response to the breach, Zydus Lifesciences issued a warning letter to Mr. Upadhyay, emphasising the importance of adhering strictly to the SEBI PIT Regulations and the company’s Code of Conduct. Mr. Upadhyay has since submitted an apology letter, acknowledging that the trade was unintentional and occurred due to oversight. He also incurred a loss of ₹170 from the sale of the shares.
The company noted that there have been no previous instances of violation by Mr. Upadhyay since the last financial year. Consequently, no monetary penalty was imposed, and no amount was collected for the violation.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).