Infosys independent director Bobby Parikh fined for stock market trade

Parikh was appointed as an Independent Director of Infosys effective July 15, 2020, based on the recommendations of the Nomination and Remuneration Committee of the Board

Bobby Parikh, who was appointed a board member of Infosys Ltd just a month back, finds himself in a controversy with the firm's audit committee imposing a fine of Rs 2 lakh on him for an "inadvertent" trade.

Infosys notified the stock exchanges on this inadvertent trading by a designated person.

Infosys said in the filing that the portfolio management services of Bela Parikh, spouse of Bobby Parikh, an Independent Director of the Company, had bought 2,754 shares during the open trading window period without the knowledge of Bobby Parikh and without obtaining pre-clearance of trade.

"Bobby Parikh is the joint holder of