HEG Limited has informed the Exchange about Reporttng of Violations under SEBI (PIT) Regulations, by Designated Persons and Action taken by Company
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HEG Limited has reported that three members of the promoter group — Mr. Nivedan Churiwal, Ms. Shubha Churiwal, and Ms. Sudha Churiwal — violated the company's insider trading code and SEBI's PIT Regulations on December 30, 2025. The violations include trading without pre-clearance, non-disclosure of transactions, and in Nivedan's case, a contra trade (buying and selling on the same day). Together, the three bought 6,330 shares worth roughly ₹38 lakh without following proper procedure. The company has directed them to sell all the shares acquired, disgorge the sale proceeds into SEBI's account, and place HEG shares on the restricted/negative list with their brokers.
The promoter group members have already deposited around ₹33.87 lakh in disgorgement proceeds to SEBI's IPEF account. While this shows the company is enforcing compliance, the episode may raise governance concerns among retail investors. The matter remains open to potential further action by SEBI, which could weigh on sentiment in the short term.