SEBI issued an administrative warning to PC Jeweller promoter Balram Garg and compliance officer Vijay Panwar on November 2. The regulator said the company failed to maintain a structured digital database for price-sensitive information shared on July 3, 2025. The firm admitted it did not keep the required records properly.
Markets regulator SEBI has issued an administrative warning letter to PC Jeweller's promoter and managing director, Balram Garg, and its company secretary and compliance officer, Vijay Panwar, the company said in a stock exchange filing on Monday.
The Securities and Exchange Board of India (SEBI) cited the violation as "failure to maintain structured digital database in relation to an unpublished price sensitive information relating to business update given by the company for the quarter ended June 30, 2025," according to the filing.
PC Jeweller said it had not maintained the database for the update, which it disclosed to the exchanges on July 3, 2025.
The company said, however, that the trading window for designated persons and their immediate relatives was closed from July 1, 2025, until two days after it declared results for the quarter on August 1, 2025, that is, until August 3, 2025.
SEBI's insider-trading rules require listed companies to maintain a structured digital database of people with access to unpublished price-sensitive information.