Defendant Name: Wipro Limited

Defendant Type: Public Company
SIC Code: 7371
CUSIP: 97651M10

Initial Case Details

Legal Case Name In the Matter of Badree Komandur, ACA, Satish Arunachalam, CA, and Wipro Limited
First Document Date 22-Dec-2016
Initial Filing Format Administrative Action
File Number 3-17746
Allegation Type Issuer Reporting and Disclosure
AAER 3837

Violations Alleged

Exchange Act
• Rule 12b-20
• Sec 13(a)
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
Other
• Rule 13a-16 Exchange Act
Additionally, Badree Komandur is alleged to have caused Wipro Limited's violation of Rule 12b-20 of the Exchange Act.
Satish Arunachalam, CA is alleged to have caused Wipro Limited's violation of Rule 12b-20 of the Exchange Act.
Badree Komandur is alleged to have caused Wipro Limited's violation of Sec 13(a) of the Exchange Act.
Satish Arunachalam, CA is alleged to have caused Wipro Limited's violation of Sec 13(a) of the Exchange Act.
Badree Komandur is alleged to have caused Wipro Limited's violation of Sec 13(b)(2)(A) of the Exchange Act.
Satish Arunachalam, CA is alleged to have caused Wipro Limited's violation of Sec 13(b)(2)(A) of the Exchange Act.
Badree Komandur is alleged to have caused Wipro Limited's violation of Sec 13(b)(2)(B) of the Exchange Act.
Satish Arunachalam, CA is alleged to have caused Wipro Limited's violation of Sec 13(b)(2)(B) of the Exchange Act.
Badree Komandur is alleged to have caused Wipro Limited's violation of Rule 13a-16 Exchange Act.
Satish Arunachalam, CA is alleged to have caused Wipro Limited's violation of Rule 13a-16 Exchange Act.

Resolutions

First Resolution Date 22-Dec-2016
Headline Total Penalty and Disgorgement $5,000,000

Related Documents:

34-79669 22-Dec-2016 Administrative Proceeding
Order Instituting Public Administrative and Cease-and-Desist Proceedings Pursuant to Sections 4C and 21C of the Securities Exchange Act of 1934 and Rule 102(e) of the Commission's Rules of Practice, Making Findings, and Imposing Remedial Sanctions, a Cease-and-Desist Order, and a Civil Penalty
On December 22, 2016, the SEC instituted a settled proceeding against Wipro Limited. According to the SEC: "from 2006 through 2009, Wipro violated the reporting, books and records and internal controls provisions of the Exchange Act in connection with the misstatements."
34-79668-s_34-79669 22-Dec-2016 Administrative Summary
SEC Charges Information Technology Service Company, Two Senior Accountants, and Audit Manager with Financial Misstatements and Auditor Independence Failures
On December 22, 2016, the SEC announced in an administrative proceeding "charges against an India-based information technology service company, Wipro Limited [...]" According to the SEC: Wipro Limited misstated "the company’s financials concerning foreign currency transactions totaling approximately $67 million over nine consecutive quarters".

Other Defendants in Action:

Badree Komandur
Satish Arunachalam, CA

Related Actions:

In the Matter of Alok Saraf, CA
Alok Saraf, CA