Panacea Biotec Limited has informed the Exchange regarding 'Reporting of violations of Company's Code of Conduct under SEBI (Prohibition ofInsider Trading) Regulations, 2015'.
PANACEABIO · price
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On the reaction day the stock moved in line with Nifty Microcap 250 and 0.4 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Panacea Biotec reported that the immediate relative of a designated employee (General Manager - Global Sourcing) executed contra trades in the company's shares within six months, violating the company's Code of Conduct under SEBI Insider Trading Regulations. The relative sold 100 shares in August 2024 and bought back 55 shares in November-December 2024, totaling 155 shares worth around Rs.43,478. The company issued a show cause notice and levied a penalty of Rs.750, which has been deposited into the SEBI Insider Trading Prevention and Enforcement Fund (IPEF). Notably, this is a repeat violation — a similar contra trade incident involving the same employee's relative occurred in FY 2023-24, which resulted in a penalty of Rs.5,685 (including disgorgement of profits). The employee clarified that the trades were made independently by her relative without any malicious intent and assured stricter compliance going forward.
This is a minor, company-level compliance issue rather than a material regulatory action against Panacea Biotec. The penalty amount is negligible (Rs.750), no profits were made from the violation, and there is no indication of trading on unpublished price-sensitive information. Shareholders are unlikely to see any meaningful impact on the stock or fundamentals — it mainly signals the need for tighter insider trading compliance training.