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ICICI Lombard alerts exchanges after employee shares draft Q3 results on WhatsApp

by TheAdviserMagazine
3 months ago
in Business
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ICICI Lombard alerts exchanges after employee shares draft Q3 results on WhatsApp
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ICICI Lombard General Insurance disclosed a corporate governance lapse after draft, unaudited December-quarter financial information was inadvertently shared on a senior employee’s personal WhatsApp status, prompting the insurer to inform stock exchanges as a precaution.

ICICI Lombard said in a regulatory filing that a “designated person” accidentally posted certain information relating to the unaudited draft financial results for the quarter and nine months ended December 2025 on their personal WhatsApp status at about 5:44 pm on January 9. The post was taken down within an hour after the lapse was identified, the company added.

The insurer stated that the figures shared were in draft form and remain subject to change as the audit process for the period is still ongoing. “Though this information is in draft form and subject to changes during the ongoing audit, as a precautionary measure and in compliance with good corporate governance practices, the Company is reporting this incident to the Stock Exchanges,” ICICI Lombard said in a statement.

Cautioning investors, ICICI Lombard said that reliance on any information related to its financial results should not be made unless it is formally disclosed following approval by the board of directors. However, it did not disclose the nature or quantum of the draft figures that were shared, nor did it indicate whether the information was viewed by others before being deleted.

In recent days, such disclosures have sparked concerns about internal controls and the safeguarding of unpublished price-sensitive information (UPSI) amid the widespread use of informal messaging platforms.

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The incident follows a similar disclosure by Hatsun Agro Product earlier this month. The dairy products maker had informed stock exchanges that draft, unaudited financial information for the December quarter was inadvertently shared by one of its key managerial personnel on a personal WhatsApp status.According to Hatsun Agro’s regulatory filing, the executive had uploaded a “first-cut draft” of the company’s unaudited financial statements for the quarter ended December 2025 around 5 pm on January 4. The company said the draft numbers were meant for internal circulation within the accounts department but were accidentally posted publicly on WhatsApp status.Hatsun Agro disclosed that the status update was viewed by about 19 people from the executive’s contact list, including a few insiders, before it was taken down within an hour. The company stressed that the figures shared were subject to change as the limited review process was still in progress.

Under securities regulations, companies are required to ensure that unpublished price-sensitive information is disseminated fairly and uniformly, typically through stock exchange filings. Any selective or inadvertent disclosure, even if unintentional, can attract scrutiny from regulators.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)



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