Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,936.0063.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

BSE seeks clarification why it was not informed of whistleblower complaint

The BSE frowned on why it was not informed about the complaint beforehand.

ETMarkets.com|
Updated: Oct 23, 2019, 12.30 PM IST
0Comments
PTI
BSE PTI
Infosys, on Tuesday, in a filing titled ‘statement’ informed the exchange about its actions on the whistleblower complaint.
BSE asked for clarification from Infosys on why the exchange was not informed about the whistleblower complaint against its top management.

Infosys, on Tuesday, in a filing titled ‘statement’ informed the exchange about its actions on the whistleblower complaint. The statement was attributable to Nandan Nilekani, Chairman of Infosys.

However, the BSE frowned on why it was not informed about the complaint beforehand. “It is observed that Infosys has not made any disclosures under Regulation 30 of SEBI (LODR) Regulations, 2015, w.r.t. receipt of whistleblower complaint mentioned in the announcement,” BSE said in a release.

Regulation 30 SEBI (LODR) Regulations, 2015 makes it mandatory for listed entities to disclose any information that, in the opinion of the board, is material and could have an impact on share prices.

An anonymous group claiming to be employees of IT major Infosys wrote to the company's board accusing CEO Salil Parekh and CFO Nilanjan Roy of indulging in "unethical practices" to boost short-term revenue and profits.

"We have high respect for all of you and bring to your notice the unethical practices of CEO in recent quarters. Same measures are taken up in the current quarter also to boost short term revenue and profits," the letter addressed to the Board of Directors dated September 20, read.

Also Read

Why are Republicans hell-bent on exposing Trump whistleblower?

NRN, Pai were marked in whistleblower mail

MCA seeks details from Infosys on whistleblower complaint

USSEC begins probe on the whistleblower complaints against Infosys

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service