Infosys shares fall on reports SEBI likely to call for forensic audit, IT major says yet to receive any request

Sources had said SEBI is likely to call for a forensic audit of books of Infosys.

Press Trust of India January 24, 2020 17:56:59 IST
Infosys shares fall on reports SEBI likely to call for forensic audit, IT major says yet to receive any request
  • The scrip declined 1.37 percent to Rs 773.80 during the day on the BSE

  • At the NSE, shares of the company fell 1.37 percent to Rs 773.60 during the day

  • Infosys on Friday said it has not received any request from SEBI for conducting further investigation in the whistleblower case

New Delhi: Shares of Infosys on Friday managed to pare some losses after falling over 1 percent during the day amid reports that market watchdog SEBI is likely to call for forensic audit of books of the company on whistleblower allegations of financial irregularities at the firm.

The scrip declined 1.37 percent to Rs 773.80 during the day on the BSE. Later, it closed at Rs 782.95, down 0.20 percent.

At the NSE, shares of the company fell 1.37 percent to Rs 773.60 during the day. It, however, narrowed the losses to close 0.17 percent lower at Rs 783.

Infosys shares fall on reports SEBI likely to call for forensic audit IT major says yet to receive any request

Representational image. Reuters

Infosys on Friday said it has not received any request from the Securities and Exchange Board of India (SEBI) for conducting further investigation in the whistleblower case where top executives were accused of rigging the company's balance sheet.

Sources had said SEBI is likely to call for a forensic audit of books of Infosys.

Earlier this month, 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 had been accused by anonymous whistleblowers.

"The company has not received any request from SEBI to conduct further audits as reported by media on January 23, 2020," Infosys said in a regulatory filing on Friday.

In October, 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.

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