Sasken Technologies Limited has closed its trading window for dealing in its securities starting June 16, 2026, to comply with insider trading regulations during the financial results period. The restriction will remain in effect until further notice as the company prepares to consider its accounts for the quarter ending June 30, 2026. This move ensures adherence to regulatory standards regarding the trading activities of insiders during sensitive financial reporting periods.

The decision aligns with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal Policy on Code of Internal Procedures and Conduct for Regulating, Monitoring and Reporting of Trading by Insiders. By shutting the trading window, sasken technologies aims to prevent the misuse of unpublished price-sensitive information. The closure is effective from Tuesday, June 16, 2026.

Regulatory Compliance

The closure of the trading window is a standard procedural step mandated by market regulator SEBI to maintain market integrity. It applies to all designated insiders and is enforced to ensure that no individual trades securities while in possession of material non-public information related to the quarterly performance.

The intimation was formally submitted to the stock exchanges on June 15, 2026, by Paawan Bhargava, Company Secretary of Sasken Technologies Limited. The communication was addressed to both BSE Limited and National Stock Exchange of India Limited to ensure uniform disclosure across all platforms where the company's shares are listed.

Sasken Technologies Limited disclosed a violation of its insider trading code by a designated person, resulting in financial penalties and a restriction on future stock benefits. The company reported to the stock exchanges on June 15, 2026, that Praveen Kumar, a Senior Architect, had breached the SEBI (Prohibition of Insider Trading) Regulations, 2015. The violations involved trading company shares without the required preclearance from the compliance officer and failing to report the trades promptly.

Details of the Violation

Praveen Kumar executed multiple transactions in Sasken Technologies shares during May 2026 without adhering to the mandated compliance protocols. The trades included sales and purchases that exceeded ₹10 lakh in value during the calendar quarter, necessitating specific disclosure timelines that were not met.

The specific transactions included:

Action Taken by the Company

In response to the breach, Sasken Technologies issued a warning letter to Kumar. The company imposed a penalty of ₹25,000, which the employee deposited into the SEBI Investor Education and Protection Fund on June 12, 2026. Additionally, Kumar has been deemed ineligible for any issuance of Employee Stock Options (ESOPs) for a period of three years.

The company stated that Kumar informed them in writing that the default was inadvertent and unintentional. Sasken Technologies determined that the imposed actions were appropriate to address the violation and deter future non-compliance by designated persons or their immediate relatives. There were no previous instances of violations recorded since the last financial year.