IT services giant Infosys has settled charges of violating provisions of insider trading and agreed to pay Rs 25 lakh for failing to have adequate controls to prevent the same, the Securities and Exchange Board of India (SEBI) said on Thursday.
SEBI said that upon investigation, it found that in the period from June 29, 2020 to September 27, 2021, Infosys had violated provisions of the SEBI Act and PIT Regulations, 2015. “During the course of investigation, it was found that certain information which was Unpublished Price Sensitive Information (UPSI) had not been considered as such by Infosys,” it said.
(More details to be added)