Infosys resolves allegations of insider trading with the markets regulator.
The Securities and Exchange Board of India said that Salil Parekh has consented to pay 2.5 million rupees, or about $30,000. Parekh was found to have failed to implement sufficient safeguards to prevent insider trading.
Bengaluru: Salil Parekh, the CEO of Infosys, the nation's second-largest exporter of IT services, has settled accusations of breaking insider trading laws, the markets regulator in India said on Thursday.
The Securities and Exchange Board of India reported that Mr. Parekh has agreed to pay 2.5 million rupees, or about $30,000. This amount was due for his failure to implement sufficient safeguards to prevent insider trading.
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