Infosys shares rally, SEBI lifts restrictions on 16 key entities in insider trading case

It’s a brisk session for Infosys shares with nearly 2% gains intra-day. The market regulator, SEBI on Monday, decided to lift restrictions on 16 entities. This includes the removal of restrictions previously imposed on some former Infosys employees, which were related to an ongoing investigation into alleged insider trading involving Infosys shares. In the final 57-page order, SEBI Whole-Time Member Ashwani Bhatia stated that he found it appropriate to lift the restrictions imposed by the interim and confirmatory orders against the named entities and close the proceedings, a PTI report said. The interim and confirmatory orders regarding these entities had already been annulled by the Securities Appellate Tribunal (SAT) in its April 25, 2022, ruling.