Infosys’ CEO Parekh settles insider trading case with Sebi; pays `25 lakh

IT giant Infosys’ MD and CEO Salil Parekh has settled with markets regulator Sebi a case pertaining to alleged violation of insider trading norms after paying Rs 25 lakh.

He allegedly failed to put in place “adequate and effective systems” of internal control to ensure compliance for preventing insider trading, according to an order passed by the Securities and Exchange Board of India (Sebi).

The case emerged from Sebi’s investigation between June 29, 2020, and September 27, 2021, in the matter of alleged insider trading in the scrip of Infosys. The regulator probe found that certain information which was Unpublished Price Sensitive Information (UPSI) had not been considered as such by Infosys.