Infosys settles case with Sebi, pays `34 lakh towards settlement

IT major Infosys has settled with Sebi a case of alleged disclosure lapses regarding severance payment made to its former chief financial officer Rajiv Bansal.

The company paid `34.35 lakh to settle the case with the markets regulator, according to an order. The watchdog had issued a notice seeking to initiate adjudication proceedings against the company in November 2017.

The notice related to Sebi examining the scrip of Infosys during which the issues pertaining to severance payment to Bansal was also looked into. Bansal resigned from the company on October 11, 2015, according to the order.