Regulator Warns PC Jeweller Leaders on Insider Trading Database Gap

Capital markets regulator SEBI has issued administrative warning letters to PC Jeweller Limited's promoter and managing director, Balram Garg, and its company secretary and compliance officer, Vijay Panwar, according to a disclosure made by the company on Saturday.

The regulator's action concerns the absence of a systematic digital database for a quarterly business update issued earlier in the year. The update related to the quarter ended June 30, 2025, and was shared with stock exchanges on July 3, 2025.

SEBI has said the lapse is connected to unpublished price-sensitive information linked to the company's quarterly business update. Under SEBI rules, listed companies must keep a digital database listing the individuals with whom such sensitive information is shared. This helps monitor possible insider trading and maintain transparency in the market.

PC Jeweller stated that the regulator issued the warning letters on October 30, 2026. The company said that although a systematic digital database was not maintained for the information disclosed, appropriate measures were in place during that period to prevent insider trading.

The company also outlined its trading window timeline. Trading remained closed for designated persons and their closest relatives from July 1, 2025, until two days after the financial results for the June 2025 quarter were announced on August 1, 2025. The restrictions remained in place until August 3, 2025.

PC Jeweller clarified that the regulatory action is administrative in nature and no financial penalty has been imposed. The company added that the warning is not expected to affect its financial performance, operations or wider business activities.