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

The regulator had initiated the adjudication proceeding against the technology major in 2017

The Securities and Exchange Board of India (Sebi) has accepted Infosys’ consent plea and settled the charges of disclosure lapses pertaining to the severance package paid to the company's former chief financial officer (CFO) Rajiv Bansal.

According to a Sebi order passed on February 15, the IT major has paid Rs 34.35 lakh to the regulator under the settlement proceedings regulation. 

The matter pertains to the Rs 173.8 million severance offer given to Bansal in October 2015 when he was allegedly forced to step down due to differences with then chief executive Vishal Sikka over the acquisition of Israeli technology firm Panaya