sebi:SO/EFD-2/SD/264/FEB/2019
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Facts / Headnote
Settled qua the applicant on payment of settlement charges; no enforcement action for said defaults
Provisions invoked
- s. 15J
Regulations
- Reg. 25
- Reg. 34
- Reg. 23
- Reg. 30(4)(i)(b)
- Reg. 4(1)(d)
- Reg. 30(3)
Parties
- Infosys Limited
Holding
The proposed adjudication proceedings against Infosys Limited for the stated LODR defaults were settled upon payment of Rs. 34,35,000 towards settlement charges, and SEBI shall not initiate enforcement action against the applicant for the said defaults.
Full text
Settlement Order in respect of Infosys Limited Page 2 of 3 30(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulations 30(4)(i)(b), 4(1)(d),(e),(h)(i) and 4(2)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 30(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 30(4)(i)(b), Clause 8 under Para B of Part A of Schedule III, Regulations 4(1)(d), (e), (h), (i) and 4(2)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Settlement Order in respect of Infosys Limited Page 3 of 3 iii. this order disposes of the said proposed adjudication proceedings in respect of the applicant for the defaults as mentioned above, in respect of the applicant and; iv. passing of this order is without prejudice to the right of SEBI to take enforcement actions including commencing proceedings against the applicant, if SEBI finds that: a. any representation made by the applicant in the present settlement proceedings is subsequently discovered to be untrue; b. the applicant has breached any of the clauses/ conditions of undertakings/ waivers filed during the present settlement proceedings.
4. The authorised representatives of the applicant had a meeting with the Internal Committee of SEBI on February 09, 2018, wherein the settlement terms were deliberated. Thereafter, the applicant vide letter dated February 14, 2018, proposed the revised settlement terms to settle the defaults mentioned above.
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Source: SecMarx — sebi:SO/EFD-2/SD/264/FEB/2019. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.