The Securities and Exchange Board of India (SEBI) has lifted restrictions on 16 entities, including former Infosys employees, and dismissed insider trading allegations stemming from investigations conducted between December 2019 and November 2020. The regulator’s decision, following a ruling from the Securities Appellate Tribunal (SAT) that quashed earlier orders, highlighted insufficient evidence to support claims against these individuals. Allegations had suggested that certain employees profited from trading based on unpublished price-sensitive information (UPSI) ahead of Infosys's financial results announcement in July 2020. Key individuals involved, such as Pranshu Bhutra, successfully contested claims of UPSI sharing, demonstrating a lack of direct evidence linking them to insider trading activities. Consequently, SEBI released any impounded funds and formally closed the case against all noticees. This marks a significant conclusion to a lengthy investigation into alleged insider trading practices at Infosys.