Lawyers dealing with the company’s legal strategy said Infosys followed all the required procedures as per its internal whistleblower policy. They are also taking a view that if whistleblower complaints are disclosed without verifying the veracity of the charges, they would hurt the company and also the interests of minority investors.
Brokers said they could end up paying 30-35 per cent less in initial margins.
However, restrictions on future share sales mean an international IPO may be ruled out.
Indian regulators have been wary of indirect investment routes.
Mutual funds and NBFCs have been the biggest lenders to promoters in recent years.
Currently, there are more than 20 startups in India valued at over $1 billion .
During the year so far, the BSE Midcap index has been down 5 per cent.
Stock exchanges have asked Infosys why the company failed to disclose the matter.
Bemused by Centre's latest decision to hold a qualifying exam for independent members of company boards, there is a brewing scepticism in the corporate sector. Until now, companies didn't choose independent directors from a database maintained by MCA.
This is not the first instance where listed government entities have refused to comply with Sebi rules.
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