Infosys files settlement plea with SEBI on ex-CFO severance pay
India's second-largest IT firm Infosys today said it has approached market regulator SEBI to settle a probe into alleged disclosure lapses involving the severance pact with former CFO Rajiv Bansal.
By : migrator
Update: 2017-12-06 15:44 GMT
New Delhi
"The settlement application process is based on an undertaking that the applicant will neither admit nor deny the finding of fact or conclusion of law," said Infosys in a regulatory filing to the BSE.
The settlement application pertains to the severance agreement with the former chief financial officer (CFO) in October 2015, it added.
Infosys will provide an update upon the conclusion of the confidential settlement process.
The software giant wants to resolve allegations against the company of not seeking prior and separate approval of the Nomination and Remuneration Committee and the Audit Committee in relation to the CFO's settlement process.
Visit news.dtnext.in to explore our interactive epaper!
Download the DT Next app for more exciting features!
Click here for iOS
Click here for Android