Sumitomo Chemical India: Violation of Insider Trading Code by GM Kaushal Shah
Sumitomo Chemical India Limited has reported a violation of the Code of Conduct under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. The violation pert...
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Why is Sumitomo Chemical India Limited in the news today?
Sumitomo Chemical India Limited (SUMICHEM) is in the news due to the announcement details a violation of the company's code of conduct related to insider trading regulations, which is a negative event.
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Sumitomo Chemical India: Violation of Insider Trading Code by GM Kaushal Shah
January 2, 2026, 06:57 AM
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Sumitomo Chemical India Limited has reported a violation of the Code of Conduct under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.
The violation pertains to Mr. Kaushal Shah, General Manager of the Bhavnagar Plant, who pledged 250 shares of the company during the week ended November 14, 2025. This action was taken without obtaining the necessary pre-clearance from the Compliance Officer, thus contravening the company's Code of Conduct.
In response to this violation, the company has imposed a penalty of ₹5,000 on Mr. Kaushal Shah. The company has recovered this amount, with the transaction details for the ₹5,000 penalty payment to the SEBI Investor Protection and Education Fund (IPEF) being submitted on January 2, 2026, via online transfer from the company's State Bank of India account.
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