No merit in Infosys whistleblower charges: Sebi

Regulator conducts preliminary probe into allegations; meets management

The Securities and Exchange Board of India (Sebi) will not pursue allegations of corporate governance violations against information technology giant Infosys.

Earlier this year, an Infosys whistleblower had written to Sebi alleging corporate governance lapses by Vishal Sikka, the company’s chief executive officer and managing director, and other board members.

Sources said Sebi conducted a preliminary probe into the allegations and did not find merit in investigating further.

The whistleblower, in a letter to Sebi and the US Securities and Exchange Commission (SEC), had alleged Infosys had overpaid for the acquisition of Israeli firm Panaya. The letter also raised the issue of the