Sumitomo Chemical India Limited — Important, 21-04-2025: Updates

Sumitomo Chemical India Limited reported a violation of its Code of Conduct regarding insider trading regulations. An individual, Mr. Kiran Chandwani, the General Manager of the Gajod Plant, faced scrutiny after his spouse, Mrs. Bindiya Chandwani, sold 400 shares of the company on March 21, 2025, without obtaining the necessary pre-clearance. This transaction was valued at approximately ₹2,11,600. As a result, the company imposed a penalty of ₹21,160 on Mr. Chandwani for this breach. The company has recovered the penalty amount, which was transferred to SEBI for compliance. This incident underscores the importance of adhering to insider trading regulations within the organization. Investors should watch closely for any further developments related to this matter and its potential impacts on governance and compliance at Sumitomo.