Infibeam sacks auditor for sharing unpublished price-sensitive information

E-commerce company Infibeam Avenues Sunday said it has terminated services of chartered accountancy firm S.R.B.C & Co. LLP as one of the joint statutory auditors of the company on grounds of sharing of unpublished price-sensitive information.

In a filing to the BSE, Infibeam said Shah & Taparia shall continue to be the statutory auditor of the company.

“The Board in its meeting held today (Sunday) has recommended subject to approval of regulatory authorities and shareholders, to terminate company’s joint statutory auditor S.R.B.C & CO. LLP (Auditor), on the grounds of sharing company’s unpublished price-sensitive information with personal e-mail accounts of their team and third-party on multiple occasions leading to breach of trust and loss of faith,” Infibeam Avenues said.