DSFCL Adopts Updated Code for Fair Disclosure of Unpublished Price Sensitive Information
DSFCL has updated its 'Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information' as per SEBI regulations. The code ensures fair and prompt disclosure of UPSI to maintain transparency and compliance. It also outlines procedures for handling leaks and interactions with analysts.
This is a procedural update related to corporate governance and compliance with SEBI regulations. It does not directly impact the company's current operations, financial performance, or future business outlook.
The announcement is a routine compliance update regarding the company's code of conduct for fair disclosure of price-sensitive information. It does not contain any new financial or business performance information that would positively or negatively impact the company's valuation.
DCM Shriram Fine Chemicals Limited (DSFCL) has announced the adoption of its revised 'Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information' (the Code). This update is in compliance with Regulation 8(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended.
The objective of the Code is to ensure prompt and fair public disclosure of Unpublished Price Sensitive Information (UPSI) that could impact the company's securities' price. It aims to maintain transparency, fairness, and adherence to all applicable laws and regulations for all stakeholders.
The Code outlines principles for fair disclosure, including prompt disclosure of UPSI, oversight and coordination of disclosures by the Company Secretary, and guidelines for interactions with analysts and investors. It emphasizes that no UPSI will be disclosed selectively and provides procedures for handling unanticipated questions from analysts. The company will ensure that information disclosed to stock exchanges is also hosted on its website, https://dsfcl.com/.
Furthermore, the Code details the process to be followed in case of a leak of UPSI, including initiating inquiries, informing the Board and SEBI, and reporting to concerned regulatory authorities. It also mandates the maintenance of a digital database of recipients of UPSI, containing their details and the purpose of sharing.
An annexure to the Code defines 'legitimate purposes' for sharing UPSI, which include sharing information with auditors, consultants, bankers, legal advisors, and other business partners in the ordinary course of business, provided it does not circumvent the SEBI PIT Regulations. The onus is on the Head of Department originating UPSI to justify its sharing.
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DCM Shriram Fine Chemicals Limited filed this with the NSE as a statutory disclosure, categorised under corporate governance report. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by DCM Shriram Fine Chemicals Limited. Read the original for the full detail.