SKF India Limited has disclosed a violation of its Code of Conduct under SEBI (Prohibition of Insider Trading) Regulations, 2015 by one of its designated persons. The company reported this incident to both NSE and BSE on January 15th, 2026, in compliance with regulatory requirements.

Violation Details

The violation involved Ms. Prajakta Kad, a designated person with PAN IEKPK0138F, who executed contra-trades within the prohibited six-month period. The specific transactions included:

The designated person violated Regulation 9 read with clause 10 of Schedule B of the Insider Trading Regulations by executing a contra-trade within a period of six months from the date of the initial trade.

Company Response and Actions

SKF India has taken several immediate steps to address this violation:

• Advisory Communication: An advice letter was sent via email on January 5th, 2026, instructing against contra-trading
• Show Cause Notice: Issued on January 8th, 2026, with the designated person's reply received on January 12th, 2026
• Audit Committee Review: The matter will be presented at the upcoming Audit Committee Meeting
• Further Action: Additional steps will be communicated to stock exchanges following the committee meeting

Regulatory Compliance

This marks the first identified violation of the company's Insider Trading Code and SEBI Insider Trading Regulations since the last financial year. The company has confirmed that no previous instances of violation have been recorded. As the trade value was below ₹10.00 lakhs in the calendar quarter, certain disclosure requirements under Regulation 7 were not applicable.

Next Steps

The company will inform stock exchanges about further action once the Audit Committee Meeting is conducted. SKF India has emphasized its commitment to maintaining strict compliance with insider trading regulations and ensuring appropriate corrective measures are implemented to prevent future violations.

SKF India Limited has announced the resignation of Mr. Mukund Vasudevan as Director (Non-Executive, Non-Independent) effective from the closure of business hours on January 12, 2026. The announcement was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and follows the company's earlier intimation dated January 10, 2026, regarding management changes.

Director Resignation Details

The resignation disclosure provides specific details about the directorship change:

Regulatory Compliance

The company has fulfilled its disclosure obligations under SEBI regulations, including compliance with clause 7 of Para A of Part A of Schedule III and the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The announcement was signed by Mayuri Kulkarni, Company Secretary & Compliance Officer, and includes the required resignation letter as Annexure A.

Resignation Letter Highlights

In his resignation letter dated January 5, 2026, Mr. Vasudevan addressed the Chairperson of SKF India Limited, confirming his decision to step down from his role as Director and member of board committees. Key points from the resignation include:

• Resignation effective from closure of business hours on January 12, 2026
• Reason cited as other pre-occupancies and commitments
• Confirmation that no other material reasons exist for the resignation
• Gratitude expressed to board members for support during his tenure
• Request for completion of necessary formalities with regulatory authorities

Corporate Governance Impact

The resignation represents a change in SKF India's board composition, with the departure of a Non-Executive, Non-Independent Director. The company has ensured proper regulatory compliance by providing detailed disclosures to both NSE and BSE, maintaining transparency in corporate governance practices. The timely communication and comprehensive documentation demonstrate adherence to SEBI's disclosure requirements for material events affecting listed companies.