Afcons Infrastructure Limited — Important, 21-03-2025: Updates

Some designated persons at Afcons Infrastructure Limited have been reported for violations of the company's Insider Trading Code of Conduct, primarily for executing contra trades and trading during the closure of the trading window.

1. Nand Kishor Singh violated the code by trading 50 shares on November 14, 2024, and 90 shares on January 31, 2025, while selling 36 shares on February 6, 2025. He has been instructed to remit a profit of ₹390.24 to the SEBI Investor Protection and Education Fund.

2. Baskaran Thirumurthy executed contra trades involving a total of 206 shares in November, leading to a directive to remit ₹14,535 as profit.

3. Other individuals, including Bhakti Vivek Prasad and I Vidyasagar Babu, also committed similar violations, leading to remitting profits of ₹2,352 and ₹36,480, respectively.

4. In total, 15 designated persons, including executive management and their relatives, have received warnings and financial penalties for such violations, with a consistent directive to avoid future breaches.

Overall, the company has taken a firm stance to maintain compliance with insider trading regulations, showing a proactive approach to governance. Investors may view this as a commitment to ethical practices within the organization.