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Subramaniam VV, Senior Principal, Corporate Accounting Group may face suspension if allegations that they shared unpublished price sensitive information are proven, legal experts told this publication.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.
Senior principal of corporate account group at Infosys
Designated person for the price sensitive information at Infosys. Alleged to have leaked the insider information to Pranshu.Source: SEBI, = unpublished price sensitive information (UPSI)
Phone calls, emails and the ‘fatherly’ connection
SEBI has gathered a plethora of evidence to support its allegations using email exchanges, telephonic records and banking transactions. And, it all starts with Pranshu Bhutra.
Amit Bhutra is listed as a director on the board of a company called Mahrishi Alloy Private limited, which claims to make steel products. And, so is Pranshu Bhutra’s father, Ram Bilas Bhutra. That’s where the trail begins.