Rama Steel Tubes Limited — Important, 21-11-2024: Updates

Rama Steel Tubes Limited has reported actions taken against two designated persons for violations of its Code of Conduct under SEBI regulations.

Mr. Rakesh Chaturvedi, President-Commercial, executed a transaction of 17,850 shares valued at ₹2,65,319, buying, and sold 16,000 shares worth ₹2,28,025. His violations included failing to seek pre-clearance for trading, not submitting post-trade intimations, and contra trading without approval. The company issued a caution letter citing this as a momentary lapse of awareness without possession of any unpublished price-sensitive information (UPSI).

Similarly, Mr. Vineet Goel, Vice President-Sales & Marketing, traded 10,000 shares valued at ₹1,18,500, buying, and another 10,000 shares valued at ₹1,60,600, selling. He also faced warnings for pre-clearance failures and contra trading. His violations resulted in ₹33,680 being transferred to the SEBI Investors Protection and Education Fund (IPEF). Both actions reflect a commitment to compliance, while the designated persons assured adherence to regulations going forward.