Symphony Limited, a leading company listed on NSE and BSE, has officially reported an insider trading violation concerning an immediate relative of a Designated Person under the SEBI (Prohibition of Insider Trading) Regulations, 2015 (SEBI PIT Regulations). The disclosure, made on February 15, 2025, states that Mrs. Meghna Biren Parikh, spouse of Mr. Biren Parikh, inadvertently purchased 50 shares of Symphony Limited on January 31, 2025, during the trading window closure period. The total value of the transaction was ₹63,099.

In adherence to SEBI’s regulatory framework, Symphony Limited’s Insider Trading Code of Conduct mandates that Designated Persons and their immediate relatives must refrain from trading in company securities during restricted periods. The company has deemed this incident a violation of Regulation 9 read with Schedule B of SEBI PIT Regulations, as well as a breach of its internal Code of Conduct.

Given the small scale of the transaction and the lack of intent to violate trading norms, Symphony Limited has decided to issue only a warning letter to the involved party. The company emphasized that no undue gains were made, and the trade was carried out inadvertently. However, the designated person has been issued a fresh copy of the Insider Trading Code as a precautionary measure. Further, the company has warned that stricter actions will be taken in case of any subsequent violations.

As per the disclosure, there have been no previous instances of violations by the involved individual since the last financial year. Additionally, no monetary penalty has been imposed or collected in connection with this case. The company has assured that it remains committed to upholding the highest standards of compliance with SEBI’s regulations and corporate governance practices.

This incident highlights the importance of adhering to SEBI regulations and the strict policies implemented by listed companies to prevent insider trading. Investors and stakeholders are advised to stay informed about the company’s regulatory updates and compliance measures as Symphony Limited continues its commitment to transparency and ethical corporate conduct.

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