Connect with us

Hi, what are you looking for?

Bnreport Business News Report


Infosys files settlement application with Sebi over former CFO’s severance

Bengaluru: Infosys said it filed a settlement application wi..

Bengaluru: Infosys said it filed a settlement application with the Securities and Exchange Board of India, relating to the severance agreement it signed with former CFO Rajiv Bansal in 2015.

The Bengaluru-headquartered company said the settlement application process is based on an undertaking that it will ‘neither admit nor deny the finding of fact or conclusion of law.’

“Through the settlement process the company wants to resolve allegations relating to the company not seeking prior and separate approval of the nomination and remuneration committee and the audit committee in relation to the severance agreement entered into with the former CFO,” Infosys said in a filing to the Bombay Stock Exchange.

The settlement process is also expected to resolve issues with relation to the disclosures around the severance agreement, cessation of payments and initiation of arbitration under the severance agreement, Infosys said.

The company said it would provide an update on completion of the confidential settlement process.

Original Article


ET Markets


Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae.


Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.


Enlarge/ You wouldn't really want to use Nvidia's ..


Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora.

%d bloggers like this: