Infosys files settlement application with Sebi over former CFO's severance

Published On: 06, Dec 2017 | Source:

India's second-largest IT firm Infosys on Wednesday said it has approached market regulator to settle a probe into alleged disclosure lapses involving the severance pact with former CFO

"The settlement application process is based on an undertaking that the applicant will neither admit nor deny the finding of fact or conclusion of law," said Infosys in a regulatory filing to the

The settlement application pertains to the severance agreement with the former chief financial officer (CFO) in October 2015, it added.

Infosys will provide an update upon the conclusion of the confidential settlement process.

The software giant wants to resolve allegations against the company of not seeking prior and separate approval of the Nomination and Renumeration Committee and the Audit Committee in relation to the CFO's settlement process.