<p>India'a second-largest software services exporter Infosys on Friday said that market regulator Sebi has sought some clarifications from it regarding its June 1 board meeting.<br /><br /></p>.<p>Infosys said, the Securities and Exchange Board of India (Sebi) “has sought certain clarifications from us relating to the Board meeting held on June 1 and we have provided the same”.<br /><br />Infosys had appointed N R Narayana Murthy as executive chairman of the Board and Additional Director with effect from June 1, 2013.<br /><br />Murthy had then said, “This calling was sudden, unexpected, and most unusual. But, then, Infosys is my middle child. Therefore, I have put aside my plans-in-progress and accepted this responsibility.”<br /><br />The company, however, did not clarify on what grounds Sebi has sought clarifications and what details of the board meeting have been asked for.<br /><br />“We will fully co-operate with Sebi and provide all necessary information in this matter,” Infosys said in an emailed statement on Friday.<br /><br />According to reports, Sebi has sought clarification regarding the spike in its share price on May 31, a day before the board meeting where Murthy's appointment was announced.<br /><br />Shares in Infosys on the Bombay Stock Exchange (BSE) had risen nearly 3 per cent and closed at Rs 2,407.60 apiece at the end of day's trade on May 31, 2013.<br /><br />An email sent to Sebi by Deccan Herald did not get any response.<br /><br />During his five-year term, Murthy would draw an annual token compensation of Re 1 per year. <br /><br />“S Gopalakrishnan would be re-designated executive vice-chairman effective June 1, 2013 and would primarily focus on key client relationships and broader industry issues,” the company had said on the appointment of Murthy.</p>
<p>India'a second-largest software services exporter Infosys on Friday said that market regulator Sebi has sought some clarifications from it regarding its June 1 board meeting.<br /><br /></p>.<p>Infosys said, the Securities and Exchange Board of India (Sebi) “has sought certain clarifications from us relating to the Board meeting held on June 1 and we have provided the same”.<br /><br />Infosys had appointed N R Narayana Murthy as executive chairman of the Board and Additional Director with effect from June 1, 2013.<br /><br />Murthy had then said, “This calling was sudden, unexpected, and most unusual. But, then, Infosys is my middle child. Therefore, I have put aside my plans-in-progress and accepted this responsibility.”<br /><br />The company, however, did not clarify on what grounds Sebi has sought clarifications and what details of the board meeting have been asked for.<br /><br />“We will fully co-operate with Sebi and provide all necessary information in this matter,” Infosys said in an emailed statement on Friday.<br /><br />According to reports, Sebi has sought clarification regarding the spike in its share price on May 31, a day before the board meeting where Murthy's appointment was announced.<br /><br />Shares in Infosys on the Bombay Stock Exchange (BSE) had risen nearly 3 per cent and closed at Rs 2,407.60 apiece at the end of day's trade on May 31, 2013.<br /><br />An email sent to Sebi by Deccan Herald did not get any response.<br /><br />During his five-year term, Murthy would draw an annual token compensation of Re 1 per year. <br /><br />“S Gopalakrishnan would be re-designated executive vice-chairman effective June 1, 2013 and would primarily focus on key client relationships and broader industry issues,” the company had said on the appointment of Murthy.</p>
