The SEBI (Prohibition of Insider Trading) Regulations, 2015 define unpublished price sensitive information, restrictions on communication and trading of such information by insiders. Unpublished price sensitive information refers to financial results, dividends, capital structure changes, mergers and acquisitions, changes in key personnel, and material events that could affect a company's stock price. Insiders are prohibited from communicating, providing access to, or procuring any unpublished price sensitive information, except on a need-to-know basis or for legitimate purposes. Such information can only be publicly disclosed regarding a takeover offer or other transaction approved by the board of directors to be in the company's best interest.