Jindal Saw Limited has taken disciplinary action against a consultant, Mr. Om Prakash Sharma, for breaching insider trading regulations. The company’s Audit Committee imposed a one-time penalty of ₹10,000 on Sharma for trading without obtaining the necessary pre-clearance.
The violation involved the sale of 15,000 equity shares of Jindal Saw Limited on 13th February 2026 at an average price of ₹188.3136 per share. The shares were sold without prior approval, which is a requirement under the company’s code of conduct for regulating, monitoring, and reporting trading activities by designated persons and their immediate relatives as per the SEBI (Prohibition of Insider Trading) Regulations, 2015.
The Audit Committee noted that the shares were acquired by Sharma through the exercising of Stock Appreciation Rights (SAR) granted during his employment. Sharma confirmed that he did not possess any price-sensitive information at the time of the sale, which he claimed was done inadvertently.
The penalty amount has been directed to be deposited into the SEBI Investor Protection and Education Fund (IPEF). The transfer was made online, with the transaction details confirming the completion of the payment on 29th April 2026.
Jindal Saw Limited reported no previous instances of violations since the last financial year. The company continues to enforce strict adherence to insider trading regulations to maintain market integrity.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).