Trading Window closure period under Clause 4 of Schedule B read with Regulation 9 of SEBI (Prohibition of Insider Trading) Regulations, 2015 (“PIT Regulations”) – Framework for restricting trading by Designated Persons (“DPs”) by freezing PAN at security level

Trading window closure: PAN-based freeze restricts designated persons from trading during closed periods around financial results.

SEBI requires depositories and exchanges to implement a system restricting trading by Designated Persons via PAN freeze at security level around financial-result disclosures for companies in benchmark indices. Listed companies must confirm ISIN, DPs' PANs and closure start/end dates at least two trading days prior (T-2); the Designated Depository will relay details to exchanges and other depositories by T-1 and daily during closure. Demat accounts are identified by PAN; on-market, off-market and pledge transactions will be restricted from commencement (T day), with additions, deletions or exemptions effected within two trading days and freezes processed post market hours.