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    Sebi may probe into whistleblower's charges against Infosys CEO Salil Parekh; what does it mean for the company?

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    Sebi may probe into whistleblower's charges against Infosys CEO Salil Parekh; what does it mean for the company?

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    Market regulator Sebi may launch a probe into the whistleblower's allegations of financial impropriety against Infosys chief executive officer Salil Parekh.

    Market regulator Sebi may launch a probe into the whistleblower's allegations of financial impropriety against Infosys chief executive officer Salil Parekh.
    This development comes weeks after audit committee  of Infosys gave Parekh and other top executives a clean chit in the matter.
    Former Sebi executive director JN Gupta told CNBC-TV18: "If Sebi is going to look into it and say that they want to have a forensic audit then they must have a definite reason for doing that because it is not a case that Sebi would be ordering forensic audit without any solid case."
    "So, whatever report that has been submitted to Sebi or whatever information is available to Sebi, probably they feel that the recommendation of a clean chit that has been given may not be right and so they would have done it. However we are not sure whether Sebi has really done it or not."
    It is very unfortunate what is happening with Infosys because the company was considered to be the benchmark of governance practices about three years ago. And, in a short period of two-three years if it is facing two or three inquiries and complaints like this, it is really unfortunate, Gupta said.
    He added it was thought that with Nadan Nilekani coming to the helm of affairs probably all these things would be over, but it seems that it is not over.
    "Either there is some tough person or somebody who is really behind Infosys and wants to destroy its reputation or it is a real situation where Infosys is really to be blamed, that I would not be able to say but then it raises fingers on people involved, on the whistleblower and everybody because one does not know the truth."
    "So, we should have a provision in the law that if a whistleblower has been proved to be wrong, there should be some sort of a liability because just by some complaint you are causing a lot of havoc in the stock market and investors are losing money."
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