Sebi to conduct fresh probe into Infosys-Panaya deal

In June, the regulator gave a clean chit to the IT major after a preliminary inquiry

The Securities and Exchange Board of India (Sebi) will conduct a fresh probe into corporate governance complaints against Infosys in connection with the Panaya acquisition. Sources said the role of several board members of the information technology giant could also come under the market regulator’s scanner.

In June, Sebi had conducted a preliminary probe into the allegations levelled by an anonymous whistle-blower on the acquisition of the Israel-based Panaya, which Infosys bought in February 2015 for $200 million. However, the regulator had closed the probe saying there was no merit in the charges made. The change in Sebi’s stance could