Technology giant Infosys’ CEO Salil Parekh has settled with the Securities and Exchange Board of India (Sebi) a matter related to an alleged insider trading violation by paying Rs 25 lakh.The case pertains to a partnership announcement between Infosys and US-based global asset manager Vanguard in 2020, wherein Infosys would provide a cloud-based record-keeping platform to Vanguard.

According to Sebi regulations, the partnership between the two companies should have been treated as unpublished price-sensitive information (UPSI). However, Infosys failed to do so.Parekh, who was the CEO and MD of Infosys at the time of the announcement of the partnership, was responsible for putting in place “adequate and effective systems of internal controls to ensure compliance with the regulations to prevent insider trading”, as per Sebi’s regulations.

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