New Delhi: Market regulator Sebi has sought clarifications from Infosys regarding its June 1 board meeting in which the company re-appointed NR Narayana Murthy as its Executive Chairman. Infosys said it has provided the information sought by the Sebi.
"Sebi has sought certain clarifications from us relating to the board meeting held on June 1 and we have provided the same. We will fully co-operate with Sebi and provide all necessary information in this matter," an Infosys spokesperson said. Specific details could not be immediately ascertained.
Going by reports, there was substantial movement in the stock prices of Infosys a day before the June 1 (Saturday) board meeting when Murthy was appointed as Executive Chairman and Additional Director. While Sensex fell by over 2 per cent, Infosys shares had gained over 3 per cent on May 31 (Friday).
Struggling IT major Infosys had on June 1 recalled its founder Murthy and returned control of the company that has disappointed investors with poor earnings in the last nine quarters and losing ground to smaller rivals.
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