Express News Service
BENGALURU: Two executives of IT major Infosys Pranshu Bhutra, Senior Corporate Counsel and Venkata Subramaniam VV, Senior Principal, Corporate Accounting Group may face suspension if allegations that they shared unpublished price sensitive information are proven, legal experts told this publication.
On May 31, SEBI barred both the Infosys employees, as well as six other entities, from trading after finding prima facie that they had helped traders earn profits worth Rs 3 crore from June-July,2020.
In August 2020, Infosys had fined its independent director Bobby Parikh for inadvertent trading by his wife’s portfolio company, which violated the company’s policies.
Software major Infosys has said that it has initiated an internal investigation in the matter of insider trading in its scrip wherein SEBI has barred two of its employees among others.In a statement, the company said that on Tuesday, it was .
Sebi has barred eight entities from the securities market for indulging in insider trading activities in the shares of Infosys. While imposing the ban till further orders on the eight entities, the watchdog also directed impounding illegal gains worth Rs 3.06 crore from two of them Capital One Partners and Tesora Capital. The entities have traded in the scrip of Infosys while in possession of Unpublished Price Sensitive Information (UPSI) pertaining to Infosys financial results for the quarter ended June 30, 2020, Sebi said in an interim order passed on Monday. Capital One and its working partners Amit Bhutra and Bharath C Jain as well as Tesora Capital and its working partners Amit Bhutra, Ankush Bhutra and Manish Champalal Jain have been barred from the securities market. Besides, Pranshu Bhutra, Senior Corporate Counsel of Infosys and Venkata Subramaniam V V, Senior Principal, Corporate Accounting Group of the company, have been barred, as per the order.
Read more about Sebi bans eight, including 2 company staff, for insider trading in Infosys on Business Standard. Illegal gains worth Rs 3.06 crore impounded
Read more about Infosys to initiate internal investigation into insider trading case on Business Standard. Infosys on Tuesday said it will initiate an internal investigation into an insider trading matter after markets regulator Sebi barred two of its employees from the securities market in the case.