Awfis Sr Executive Accused of Insider Trading Breach
Awfis, a prominent player in the coworking sector, recently disclosed a breach of insider trading norms by one of its top executives. Anandita Seal Sarkar, the vice-president of sales at Awfis, reportedly purchased 25 shares without obtaining prior approval from the compliance officer. The company stated that the audit committee would take appropriate action in accordance with the prescribed code of conduct.
This revelation comes on the heels of brokerage firm IIFL Securities initiating coverage on Awfis, giving it a ‘BUY’ rating and setting a price target of INR 980. The coworking space startup has garnered attention for its growth potential and innovative approach within the industry.
It is crucial for companies to uphold ethical standards and regulatory requirements, especially when it comes to insider trading. Awfis’s response to this breach underscores the importance of maintaining transparency and integrity in financial dealings.
As the situation unfolds, investors and stakeholders will be closely monitoring how Awfis addresses this issue and maintains compliance with regulatory guidelines. Stay tuned for further updates on this developing story as it continues to unfold.
