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US's SEC to seek Sebi cooperation

Infosys is listed in India as well as in the US, where a class action suit has also been filed against the Indian IT major to recover what has been termed by the litigants as losses suffered by investors there

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New Delhi: US market regulator SEC will be seeking cooperation from its Indian counterpart Sebi in its probe into Infosys, which has been rocked by whistleblower complaints of several alleged irregularities, sources said on Friday. They said the Indian capital markets watchdog will provide all possible help to the US Securities and Exchange Commission (SEC).

Infosys is listed in India as well as in the US, where a class action suit has also been filed against the Indian IT major to recover what has been termed by the litigants as losses suffered by investors there. When asked about cooperation sought from Sebi into Infosys matter, a spokesperson for the SEC Office of Public Affairs declined to comment. The SEC has initiated a probe on whistleblower complaints that alleged "unethical practices" by top management of Infosys and Bengaluru-based IT major has said it will cooperate with the investigation.

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