Explain the concept of 'insider trading' and define the same as per the Companies Act, 2013.

As per section 195 of the Companies Act, 2013, No person including any director or KMP of a company shall enter into insider trading except any communication required in the ordinary course of business or profession or employment or under any law. In terms of explanation to Section 195(1), the term "Insider Trading means- an act of subscribing, buying or selling, dealing or agreeing to subscribe, buy, sell or deal in any way by any director or key managerial personnel or any other officer of the company either as principal or agent if such director or key managerial personnel or any other officer of the company is reasonably expected to have access to any non-public price sensitive information in respect of securities of company, or an act of counselling about, procuring or communicating directly or indirectly any non-public price sensitive information to any person; "Price Sensitive information" means any information which relates to, directly or indirectly, to a company and which if published is likely to materially affect the price of securities of the company.