Eight years ago, on 6 October 2010, some members of the Kirloskar family including Atul Kirloskar and Rahul Kirloskar had sold 13.5% of Kirloskar Brothers Limited shares worth about ₹275 crore before financial results were reported on 8 October 2010. In 2012, the Securities and Exchange Board of India (Sebi) sent a letter to the company seeking transaction details. Following this, Kirloskar Brothers Limited hired law firm AZB and Partners to conduct a forensic audit to verify allegations of insider trading. The audit found that few members of the Kirloskar Family, including the two brothers, mis-stated in a regulatory disclosure that they were not in possession of unpublished price-sensitive financial information while seeking clearance to sell Kirloskar Brothers shares. The code of conduct for promoters and other key management personnel requires them to take the board’s clearance before transacting in the company’s shares. “The financial performance of Kirloskar Brothers wa