Sasken Technologies Limited — Important, 09-12-2024: Updates

Sasken Technologies Limited reported violations of its Code of Conduct related to insider trading regulations. Two designated persons, Mr. Amit Bhatt and Ms. Lata Bhat, sold shares during a trading window closure without obtaining the required pre-clearance from the Compliance Officer. Mr. Bhatt sold 1,490 shares for a total value of Rs. 26,51,802, while Ms. Bhat sold 1,000 shares valued at Rs. 16,82,500. As a result, the company issued warning letters and imposed penalties of Rs. 50,000 and Rs. 35,000, respectively, both of which will be deposited into the Investor Education and Protection Fund (IEPF). Additionally, both individuals will be ineligible for future Employee Stock Options (ESOPs) for three years due to these violations. This situation presents potential reputational risks for the company, warranting close observation.