Mindtree says had detected irregularities by V G Siddhartha in disclosures

IT company Mindtree Tuesday said it had found certain irregularities in disclosures made by Coffee Day promoter V G Siddhartha, who sold stake in the company to L&T, and had taken action against him as per the law, according to a top official of the Bengaluru-based IT firm.

“On the pledge disclosure issue, there was a disclosure that he made at certain point of time of all the pledge. At that point of time, there were some irregularities in his disclosures. Our board and audit committee evaluated it and handled it as per the rule that were prevailing at that point of time,” Mindtree CEO Rostow Ravanan told reporters here.

In this regard, a complaint against Siddhartha alleging insider trading during his stint at Mindtree has also been filed with Sebi by an anonymous person, according to sources.