Nestlé India did not declare the identity of the person involved.
“The company’s compliance officer has received an administrative alert letter from the Deputy General Manager of SEBI for violations of Sebi (Insider Trading Prohibition) Regulations, 2015 (‘Pete Regulations’) by the company’s designated person.
Later in a statement, a spokeswoman for Nestlé India said that it would not have any material impact on the company.
Nestlé India said, “We will clearly assert that this information has no effect on the company’s financial and operational capabilities. This information has been provided in accordance with the regulation of SEBI listing regulations.”
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Insider trading is one of the most serious malpractices that exists in the market.
It sells or buys securities such as equity and bonds by the company’s interior, including employees, directors, officials and promoters.
To prevent such acts and promote fair trade in the market for the benefit of ordinary investors, SEBI has banned companies from buying their own shares from the secondary market.
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