Samtex Fashions adopts revised fair disclosure code on May 28, 2026
Samtex Fashions Limited approved a revised Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI) on May 28, 2026, effective immediately. The policy designates the Company Secretary as the Chief Investor Relations Officer and mandates the maintenance of a structured digital database for eight years. It defines UPSI broadly, covering financial results, mergers, regulatory actions, and other material events, while prohibiting selective disclosure.
*this image is generated using AI for illustrative purposes only.
Samtex Fashions Limited has approved a revised Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI) to ensure compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. The Board of Directors adopted the policy on May 28, 2026, effective immediately, to establish protocols for preventing insider trading and ensuring the equitable dissemination of material information. The code mandates that any UPSI shared with select groups must be simultaneously disclosed to the public to prevent selective disclosure.
The policy designates the Company Secretary & Compliance Officer as the Chief Investor Relations Officer (CIRO), responsible for implementing the code and disseminating information. The Managing Director and Chief Financial Officer, in consultation with the CIRO, hold the authority to determine matters related to information disclosure. The company is required to maintain a structured digital database for at least eight years, recording the nature of UPSI shared and the details of recipients, including their PAN or other identifiers, to ensure non-tampering and confidentiality.
Definition of UPSI
The code defines UPSI as information not generally available that could materially affect the price of securities. This includes financial results, dividends, changes in capital structure, mergers, acquisitions, key managerial personnel changes, rating changes, fund-raising plans, and material agreements. It also covers fraud, defaults, forensic audits, regulatory actions, litigation outcomes, and material guarantees or licenses.
Principles of Disclosure
Samtex Fashions Limited outlined principles for fair disclosure, requiring prompt public dissemination of UPSI once credible information exists. The policy prohibits the use of social media for disclosing material non-public information. If unintentional disclosure occurs, the company must publicly disseminate the information within 24 hours of discovery. Authorized spokespersons for external communications are restricted to the Managing Director and CFO.
| Authority | Role |
|---|---|
| Chief Investor Relations Officer | Dissemination of information and implementation of the code |
| Managing Director & CFO | Determination of matters covered under the policy |
| Board of Directors | Supervision of the structured digital database |
The policy also addresses legitimate purposes for sharing UPSI, such as with partners, lenders, or advisors, provided a Non-Disclosure Agreement is in place. Any violation of the policy by employees or directors may result in disciplinary action, including termination of services.
Historical Stock Returns for Samtex Fashions
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +3.47% | +3.47% | +2.05% | -23.59% | -45.62% | +25.21% |
How will the immediate implementation of the revised UPSI code impact Samtex Fashions' transparency and investor relations strategy?
What measures will the company take to ensure the structured digital database remains secure and tamper-proof over the eight-year retention period?
How might the restriction on social media disclosures affect the company's ability to engage with retail investors and the broader market?
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