Infosys, CEO Parekh settle insider trading matter with Sebi; pay Rs 25 lakh

Information technology (IT) major Infosys and Salil Parekh, its chief executive officer, have settled with the Securities and Exchange Board of India (Sebi) a matter related to alleged insider trading violation by agreeing to pay Rs 25 lakh.

The matter pertains to a partnership announcement between Infosys and US-based global asset manager Vanguard in July 2020. Under the agreement, Infosys would provide a Cloud-based record-keeping platform to Vanguard.