Sheela Foam Amends Code for Fair Disclosure of Price Sensitive Information
This update enhances regulatory compliance and transparency, which is important for investor confidence and good governance. While not directly impacting financial performance, it improves the company's operational integrity.
The amendment of the code strengthens the company's corporate governance and compliance framework by ensuring fair and prompt disclosure of price-sensitive information and reinforcing measures against insider trading.
* Sheela Foam Limited (SFL) announced on August 05, 2025, that its Board of Directors approved an amended "Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI)". * This amendment was made pursuant to Regulation 8(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. * The objective of the amended code is to ensure fair and prompt public disclosure of UPSI, making such information generally available. * Key principles of the code include: * Prompt public disclosure of UPSI as soon as credible information comes into being. * Uniform and universal dissemination of UPSI to prevent selective disclosure. * The Company Secretary/Compliance Officer will act as the Chief Investor Relations Officer (CIRO) for information dissemination and disclosure of UPSI. * Prompt dissemination of any UPSI that is selectively, inadvertently, or otherwise disclosed. * Appropriate and fair responses to regulatory authorities regarding news reports and requests for verification of market rumours. * Ensuring that information shared with research personnel, analysts, and investors does not constitute UPSI. * Handling all unpublished price sensitive information strictly on a 'need-to-know' basis. * UPSI may be shared only for 'legitimate purposes' in the ordinary course of business, performance of duties, or discharge of legal obligations, such as with auditors, partners, collaborators, lenders, customers, suppliers, merchant bankers, legal advisors, and other consultants. * The company will maintain a Structured Digital Database (SDD) of all persons with whom UPSI is shared, including their Permanent Account Number (PAN) or other authorized identifiers. * The code explicitly prohibits any insider from trading in the company's securities when in possession of unpublished price sensitive information.
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Sheela Foam Limited filed this with the NSE as a statutory disclosure, categorised under regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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