Garware Hi-Tech Films Limited has informed the Exchange regarding 'Reporting under SEBI (Prohibition of Insider Trading) Regulations, 2015'.
GRWRHITECH · price
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Garware Hi-Tech Films has reported a violation of its insider trading code by the immediate relatives of Mr. Pramod Satam, a connected person (ex-employee who left the company on November 21, 2024). On April 25, 2025, Ms. Preeyal Pramod Satam bought 25 shares at Rs. 3,317 (Rs. 82,925) and Mrs. Priya Pramod Satam bought 15 shares at the same price (Rs. 49,755), all during the closed trading window. Ms. Preeyal then executed a contra trade on May 2, 2025, selling 25 shares at Rs. 3,162 (Rs. 79,050). The company's Audit Committee met on May 14, 2025, imposed a penalty of Rs. 25,000 on each person plus any profit earned, to be deposited with SEBI IPEF. The ex-employee has not responded or paid the penalty, and no previous violations exist on record.
The violation is small in size (around Rs. 2 lakh in trades) and involves an ex-employee's family rather than current management, so it is unlikely to materially affect the stock price. It does demonstrate that the company's compliance system is active and willing to flag and penalize breaches.