Who made a huge position in derivatives before the whistleblower complaint at the IT giant Infosys Company? Sebi's Investigation

-

Mumbai, Ta. 23 October 2019, Wednesday

Securities and Exchange Board of India (Sebi) has launched a probe to find out who made the huge derivatives position in the stock of Infosys before the whistleblower complaint against company management was announced. Infosys' November series saw the creation of massive derivatives positions and Put's big position.

After the whistleblower complaint was announced in Infosys, the stock recovered on Wednesday, falling by a four percent gap. Whistleblower Infosys Management and US The complaint to the Securities and Exchange Commission (SEC) was made public on October 1. Infosys's American Depository Receipts (ADR) broke 5 percent on Monday after the complaint was announced and Infosys shares fell 5 percent in the Indian stock market on Tuesday.

According to the complaint filed by the whistleblower, the company's chief executive officer Salil Parekh and chief financial officer Nilanjan Roy have adopted unlawful accounting practices to increase profits.

Sources in the SEBI inquiry into the matter said that the SEBI itself has automatically taken into account the fact that there was no complaint to Sebi. The audit committee of Infosys has also investigated the complaint for its merit and discussed it on October 1. The Semi Audit Committee would like to know what the committee found for any action.

On Wednesday, the BSE said Infosys had failed to disclose the whistleblower's complaint to the stock exchanges as per the listing norms. The Listing Obligation and Disclosure Standards require that all material information be disclosed and that the whistleblower allegations are not material until proven otherwise.

Companies receive a number of whistleblower complaints every year. Companies announce their numbers and the types of whistleblower complaints in their annual reports without their content. Both Infosys CEO and CFO are reported to have been questioned by the Infosys board on October 1 in the allegations.


Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se
Read more