Genus Power Infrastructures Limited announced on May 30, 2025, that its Board of Directors approved an amendment to the 'Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information' (Fair Disclosure Code).
- This amendment is in accordance with Regulation 8(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.
- The updated code, available on the company's website, outlines principles for fair disclosure of Unpublished Price Sensitive Information (UPSI).
- Key aspects of the amended code include:
- Prompt public disclosure of UPSI to ensure it becomes generally available.
- Uniform and universal dissemination of UPSI to prevent selective disclosures.
- Designation of the Compliance Officer as the Chief Investor Relations Officer responsible for UPSI dissemination.
- Prompt dissemination of any UPSI disclosed selectively or inadvertently.
- Fair and prompt responses to queries on news reports and market rumours.
- Prohibition of sharing UPSI with analysts and research personnel.
- Best practices for making transcripts/records of meetings with analysts and investor conferences available on the official website.
- Handling of UPSI on a need-to-know basis.
- The code also details the policy for determining 'Legitimate Purpose' for sharing UPSI, which must be in the ordinary course of business and not to evade regulations.
- Legitimate purposes include sharing with promoters, auditors, lenders, customers, suppliers, merchant bankers, legal advisors, consultants, partners, insolvency professionals, and other advisors or their staff members.
- Any person receiving UPSI for a legitimate purpose is considered an 'insider' and must maintain confidentiality.
- The company is required to maintain a structured digital database (SDD) containing details of UPSI, persons with whom it's shared (including PANs/unique identifiers), and sharers. The SDD must have adequate internal controls, be non-outsourced, and preserved for at least eight years, or longer if SEBI investigations are ongoing.
- The code was last reviewed and updated on May 30, 2025, and became effective from the same date.