Bansal row: Infosys settles case with SEBI

IT major Infosys has settled with the SEBI a case of alleged disclosure lapses regarding severance payment made to its former chief financial officer Rajiv Bansal. The company paid Rs. 34.3500000 to settle the case with the markets regulator, according to an order. The watchdog had issued a notice seeking to initiate adjudication proceedings against the company in November 2017. The notice related to SEBI examining the scrip of Infosys during which the issues pertaining to severance payment to Mr. Bansal was also looked into. Mr. Bansal resigned on October 11, 2015, according to the order. In December 2017, Infosys filed an application under the settlement mechanism.