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E-commerce gets a booster shot

In today's ETtech Morning Dispatch newsletter, e-commerce firms get a pandemic boost from Mumbai and Delhi; Digital payments see a sharp decline; and Infosys begins internal probe after insider trading allegations.

New-york , United-states , Mumbai , Maharashtra , India , Delhi , Bengaluru , Karnataka , Chhattisgarh , Kerala , France , Bharat

infosys insider trading: Despite tall promises, Infosys failing to live up to Murthy's governance ideals

Nilekanis return was equivalent to the return of the lost son. He was expected to return the company to the good old days when corporate governance was not mere lip service given to shareholders during annual general meeting, but a way of life.

India , Bengaluru , Karnataka , Narayana-murthy , Nilanjaan-roy , Vishal-sikka , Pranshu-bhutra , Nandan-nilekani , Exchange-board-of-india-sebi , Infosys , Exchange-board , Venkata-subramaniam

Infosys employees found doing insider trading; Sebi impounds bank a/cs

Capital One and Tesora Capital had traded in the scrip of Infosys in the futures and options segment just prior to announcement of financial results for the quarter ended June 30, 2020, SEBI said.

Mumbai , Maharashtra , India , Venkata-subramaniam , Pranshu-bhutra , Bharath-jain , Venkata-subramanian , Amit-buthra , Bharathc-jain , Amit-bhutra , Bharat-jain , Capital-one

Infosys insider trading case: SEBI investigates deals worth ₹3 crore


Senior principal of corporate account group at Infosys
Designated person for the price sensitive information at Infosys. Alleged to have leaked the insider information to Pranshu.Source: SEBI, * = unpublished price sensitive information (UPSI)
Phone calls, emails and the ‘fatherly’ connection
SEBI has gathered a plethora of evidence to support its allegations using email exchanges, telephonic records and banking transactions. And, it all starts with Pranshu Bhutra.
Amit Bhutra is listed as a director on the board of a company called Mahrishi Alloy Private limited, which claims to make steel products. And, so is Pranshu Bhutra’s father, Ram Bilas Bhutra. That’s where the trail begins.

India , Bharat , Manishc-jain , Manish-jain , Bobby-parikh , Ankush-bhutra , Pranshu-bhutra , Bharath-jain , Ram-bilas-bhutra , Nilanjan-roy , Salil-parekh , Bharathc-jain

Infosys Insider Trading: SEBI bans 8 Entities from Markets, Imposes Penalty of Rs3.06 Crore


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In an interim order, the Securities and Exchange Board of India (SEBI) has banned eight entities and individuals from trading in the stock market and imposed a collective penalty of Rs 3.06 crore after they were held guilty on insider trades on Infosys stock.
 
The eight entities and individuals are: Pranshu Bhutra, Amit Bhutra, Bharat C Jain, Manish Champalal,  Ankush Bhutra, Amit Bhutra, Capital One and Tesora. Amit Bhutra and Bharath C Jain are working partners of Capital One. Amit Bhutra, Ankush Bhutra and Manish Champalal Jain are working partners of Tesora.
 
According to SEBI, Capital One Partners and Tesora Capital had made illegal gains of Rs 27.95 crore and Rs 26.82 lakhs respectively by indulging in insider trading while in possession of the unpublished price sensitive information (UPSI) pertaining to the corporate announcement of audited financial results for the quarter ended 30 June 2020 made by Infosys.

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Infosys begins internal probe after SEBI order on two employees involved in insider trading

Infosys senior corporate counsel Pranshu Bhutra and senior principal Venkata Subramaniam V V were barred from accessing the securities market after investigating insider trading in the shares of Indias second most valued IT company last year

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