Infosys shares fall over 2% after SEBI, US SEC initiate probe into whistleblower allegations

Infosys shares on Thursday declined over 2 percent after the Securities and Exchange Board of India (SEBI) and US Securities and Exchange Commission initiated probe following the whistleblower complaints

Press Trust of India October 24, 2019 11:43:22 IST
Infosys shares fall over 2% after SEBI, US SEC initiate probe into whistleblower allegations
  • On Monday, Infosys informed stock exchanges about anonymous whistleblower complaints alleging certain unethical practices

  • Following reports of whistleblower allegations on Monday, Infosys had informed stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices

  • US SEC has initiated an investigation into this matter and SEBI also has requested additional information from the company concerning the anonymous complaints, and Infosys will provide the information as per its request

New Delhi: Infosys shares on Thursday declined over 2 percent after the Securities and Exchange Board of India (SEBI) and US Securities and Exchange Commission initiated probe following the whistleblower complaints.

The scrip fell 2.36 percent to close at Rs 635.40 on the BSE. During the trade, it declined 2.87 percent to Rs 632.05.

On the NSE, it went lower by 2.39 percent to close at Rs 635.

In terms of the traded volume, 17.26 lakh shares of the company were traded on the BSE and over 2.5 crore units on the NSE during the day.

Infosys shares fall over 2 after SEBI US SEC initiate probe into whistleblower allegations

Representational image. Reuters

On Monday, Infosys informed stock exchanges about anonymous whistleblower complaints alleging certain unethical practices.

"The company has been in touch with the Securities and Exchange Commission (SEC) regarding the anonymous whistleblower complaints (anonymous complaints) and has learnt that the SEC has initiated an investigation into this matter. The company will cooperate with the SEC's investigation," Infosys said in a statement.

Also, SEBI has requested additional information from the company concerning the anonymous complaints, and Infosys will provide the information as per its request, it added.

Following reports of whistleblower allegations on Monday, Infosys had informed stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices.

The Bengaluru-based company said these had been placed before the audit committee.

Further, in mounting woes for Infosys, the government has asked the National Financial Reporting Authority (NFRA) to look into alleged accounting irregularities at the IT major in the wake of whistleblower complaints, a senior official said on Thursday.

Updated Date:

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