Bangalore: Digital Globalsoft Ltd on August 10 said, "It does not believe that any irregular flow of information could have emanated from within the company", on the alleged insider trading of its stock by Alliance Capital, chief investment officer Samir Arora.

Digital, a subsidiary of global IT major HP, said it had implemented and adopted comprehensive insider trading policy guidelines and processes, which are in compliance with SEBI (Securities and Exchange Board of India) regulations and support best practices of corporate governance.

Arora was suspended by SEBI on August 9, from dealing in securities, directly or indirectly, till further orders with immediate effect for alleged insider trading and non-disclosures of investments.

"The company and its officials have been compliant with and conform to its policy guidelines, and processes, SEBI regulations, trading restraints and the applicable disclosure norms," Digital said in a statement in Bangalore.

It said the company would provide to SEBI its support and cooperation on this subject.

SEBI charged Arora of trading in the shares of Digital, before the valuation of the de-merged HP ISO with Digital, on the basis of unpublished price-sensitive information obtained due to his close nexus with company insiders and thereby averted losses to the tune of approximately Rs 24 crore for the funds managed by him.

PTI