Nucleus Software Takes Swift Action Post Insider Trading Penalty

Nucleus Software has disciplined an employee following a penalty from SEBI for insider trading. The company emphasizes its commitment to compliance and internal governance, in response to the Rs 25 lakh fine imposed on two individuals for illicit trading in its shares earlier this year.

Nucleus Software has announced disciplinary measures against an employee implicated in insider trading, following a Rs 25 lakh penalty imposed by the market regulator, SEBI. The incident underscores ongoing efforts to uphold strict compliance with legal standards.

According to a statement from Parag Bhise, CEO and Executive Director of Nucleus Software, the individual's actions do not reflect the company's values or governance standards. The organization has implemented immediate actions to address the situation and prevent further incidents.

Bhise highlighted Nucleus Software's dedication to compliance and its proactive steps to enhance the compliance framework, including employee training and internal controls. The company's response aligns with SEBI's order regarding trades executed in 2023 under insider trading regulations.

(With inputs from agencies.)