Infosys says US SEC concludes probe in whistleblower case; no further action expected

Infosys on Tuesday said the US Securities and Exchange Commission (SEC) has concluded the investigation in the whistleblower allegations made last year, and that it does not anticipate any further action by the regulator

Press Trust of India March 24, 2020 14:03:31 IST
Infosys says US SEC concludes probe in whistleblower case; no further action expected

New Delhi: Infosys on Tuesday said the US Securities and Exchange Commission (SEC) has concluded the investigation in the whistleblower allegations made last year, and that it does not anticipate any further action by the regulator.

In October last year, Infosys had informed stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices by the top management. It then started a probe into the matter and roped in external investigators.

US market regulator SEC had also initiated a probe into the matter.

In a regulatory filing on Tuesday, Infosys said it has received a notification from the SEC stating that its investigation has concluded. “The company does not anticipate any further action by the SEC on this matter."

The Bengaluru-based company said it has responded to all the inquiries received from Indian regulatory authorities and that it will continue to cooperate with the authorities if there are any additional requests for information.

In January this year, Infosys had said its audit committee had found no evidence of financial impropriety or executive misconduct, virtually giving a clean chit to CEO Salil Parekh and CFO Nilanjan Roy who were accused by anonymous whistleblowers of rigging the company’s balance sheet.

Updated Date:

also read

Coronavirus Updates: Section 144 in Maharashtra from 8 pm tomorrow; essential services exempted
India

Coronavirus Updates: Section 144 in Maharashtra from 8 pm tomorrow; essential services exempted

Coronavirus LIVE Updates: The new restrictions will be in place for 15 days. Only essential services to be exempted from the restrictions and public transport will be open only for them

Russia's Sputnik V COVID-19 vaccine gets expert panel nod for emergency use in India
India

Russia's Sputnik V COVID-19 vaccine gets expert panel nod for emergency use in India

Dr Reddy's conducted the bridge trials in India and will distribute some 100 million doses of the vaccine in India.

DCGI approves SEC's emergency use recommendation for Sputnik V vaccine
India

DCGI approves SEC's emergency use recommendation for Sputnik V vaccine

Sputnik V, backed by the RDIF, already has production agreements in India to produce 852 million doses.