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Infosys fines Kiran Mazumdar-Shaw for breach of insider trading norms

Biocon chairman & lead independent director at Infy fined ~9.5 lakh for selling firm's shares without intimation

Infosys plans less staff deployment to meet future demands, check attrition
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Debasis Mohapatra Bengaluru
The country’s second-largest information technology (IT) services company, Infosys, has imposed a penalty of Rs 9.5 lakh on its lead independent director, Kiran Mazumdar-Shaw, for inadvertently selling 1,600 shares of the company during open trading window period without prior permission to execute such a trade.

In a filing to the exchanges, the IT firm said even though the trade was carried out by the portfolio manager without the knowledge of Mazumdar-Shaw, there was violation of the company’s Insider Trading Policy and the Sebi (Prohibition of Insider Trading) Regulations, 2015.

“The trade was carried out by the portfolio manager without the knowledge of

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First Published: Feb 28 2019 | 10:55 PM IST

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