Mastek, in a release issued to the Bombay Stock Exchange on Monday, said the company 'strongly believes that senior management has no legitimacy to run companies on behalf of shareholders if it is involved in practices like selectively sharing crucial, unpublished price sensitive information.'

The release goes on to add: "Mastek abides by the highest standards of corporate governance practices. At no point of time, separate price sensitive information is discussed or disclosed to any individual or group of investors or analysts."

The release added that the company was open to share any information that Sebi may deem necessary.