Staff were told of lucrative partnership before the rest of us
Infosys CEO Salil Parekh has agreed to pay a fine of ₹25 lakh for failing to implement adequate insider trading controls, according to Securities and Exchange Board of India documents filed on Wednesday.states that during the course of an investigation conducted across 2020 and 2021, the regulator determined a strategic partnership between Infosys and asset management company Vanguard was incorrectly not treated as unpublished price sensitive information by the Indian tech services giant.
Infosys's own analysis apparently predicted the partnership would assist in expanding business and revenue – yet the outsourcing megalith didn’t disclose it to the world.trading Infosys stock in the hope the deal would see its price rise. He was right, and profited to the tune of $350,000. SEBI spotted the profit and deemed it worthy of investigation.
Parkeh opted for a settlement rather than defending the matter – an approach that spares him an embarassing inquisition.17.3 percent in fiscal year 2024 to around $7.9 million – one of the biggest pay packets for an IT exec in India.
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