SEBI Fines Rs 2.6 Crore & Bans Two for Insider Trading in Infosys

SEBI has banned Keyur Maniar and Ramit Chaudhri for insider trading in Infosys shares. Maniar, a former Infosys employee, and Chaudhri, a financial consultant, gained ₹2.6 crore using unpublished price-sensitive information (UPSI) about Infosys’ share buyback. SEBI’s investigation revealed that Maniar accessed the UPSI due to his position and shared it with Chaudhri. The trades occurred between December 2019 and January 2020, just before Infosys announced the buyback. SEBI has impounded the illicit gains and fined both individuals ₹30 lakh each. They are banned from the securities market for one year. SEBI has directed Infosys to improve its internal controls and compliance to prevent future insider trading. This case shows SEBI’s commitment to maintaining market integrity and protecting investors. By enforcing strict penalties and improving company protocols, SEBI aims to deter insider trading and promote a fair market.