diff --git a/src/client/pythonEnvironments/base/locators/composite/envsCollectionCache.ts b/src/client/pythonEnvironments/base/locators/composite/envsCollectionCache.ts
index a855757be7ca..396382ca3558 100644
--- a/src/client/pythonEnvironments/base/locators/composite/envsCollectionCache.ts
+++ b/src/client/pythonEnvironments/base/locators/composite/envsCollectionCache.ts
@@ -4,7 +4,7 @@
 import { Event } from 'vscode';
 import { traceInfo } from '../../../../logging';
 import { reportInterpretersChanged } from '../../../../proposedApi';
-import { arePathsSame, pathExists } from '../../../common/externalDependencies';
+import { arePathsSame, getFileInfo, pathExists } from '../../../common/externalDependencies';
 import { PythonEnvInfo } from '../../info';
 import { areSameEnv, getEnvPath } from '../../info/env';
 import {
@@ -33,18 +33,19 @@ export interface IEnvsCollectionCache {
     /**
      * Adds environment to cache.
      */
-    addEnv(env: PythonEnvInfo, hasCompleteInfo?: boolean): void;
+    addEnv(env: PythonEnvInfo, hasLatestInfo?: boolean): void;
 
     /**
      * Return cached environment information for a given path if it exists and
-     * has complete info, otherwise return `undefined`.
+     * is up to date, otherwise return `undefined`.
      *
      * @param path - Python executable path or path to environment
      */
-    getCompleteInfo(path: string): PythonEnvInfo | undefined;
+    getLatestInfo(path: string): Promise<PythonEnvInfo | undefined>;
 
     /**
-     * Writes the content of the in-memory cache to persistent storage.
+     * Writes the content of the in-memory cache to persistent storage. It is assumed
+     * all envs have upto date info when this is called.
      */
     flush(): Promise<void>;
 
@@ -60,7 +61,7 @@ export interface IEnvsCollectionCache {
     clearCache(): Promise<void>;
 }
 
-export type PythonEnvCompleteInfo = { hasCompleteInfo?: boolean } & PythonEnvInfo;
+export type PythonEnvLatestInfo = { hasLatestInfo?: boolean } & PythonEnvInfo;
 
 interface IPersistentStorage {
     load(): Promise<PythonEnvInfo[]>;
@@ -72,7 +73,7 @@ interface IPersistentStorage {
  */
 export class PythonEnvInfoCache extends PythonEnvsWatcher<PythonEnvCollectionChangedEvent>
     implements IEnvsCollectionCache {
-    private envs: PythonEnvCompleteInfo[] = [];
+    private envs: PythonEnvLatestInfo[] = [];
 
     constructor(private readonly persistentStorage: IPersistentStorage) {
         super();
@@ -103,10 +104,11 @@ export class PythonEnvInfoCache extends PythonEnvsWatcher<PythonEnvCollectionCha
         return this.envs;
     }
 
-    public addEnv(env: PythonEnvCompleteInfo, hasCompleteInfo?: boolean): void {
+    public addEnv(env: PythonEnvLatestInfo, hasLatestInfo?: boolean): void {
         const found = this.envs.find((e) => areSameEnv(e, env));
-        if (hasCompleteInfo) {
-            env.hasCompleteInfo = true;
+        if (hasLatestInfo) {
+            env.hasLatestInfo = true;
+            this.flush(false).ignoreErrors();
         }
         if (!found) {
             this.envs.push(env);
@@ -133,26 +135,33 @@ export class PythonEnvInfoCache extends PythonEnvsWatcher<PythonEnvCollectionCha
         }
     }
 
-    public getCompleteInfo(path: string): PythonEnvInfo | undefined {
+    public async getLatestInfo(path: string): Promise<PythonEnvInfo | undefined> {
         // `path` can either be path to environment or executable path
-        let env = this.envs.find((e) => arePathsSame(e.location, path));
-        if (env?.hasCompleteInfo) {
+        const env = this.envs.find((e) => arePathsSame(e.location, path)) ?? this.envs.find((e) => areSameEnv(e, path));
+        if (env?.hasLatestInfo) {
             return env;
         }
-        env = this.envs.find((e) => areSameEnv(e, path));
-        return env?.hasCompleteInfo ? env : undefined;
+        if (env && (env?.hasLatestInfo || (await validateInfo(env)))) {
+            return env;
+        }
+        return undefined;
     }
 
     public async clearAndReloadFromStorage(): Promise<void> {
         this.envs = await this.persistentStorage.load();
+        this.envs.forEach((e) => {
+            delete e.hasLatestInfo;
+        });
     }
 
-    public async flush(): Promise<void> {
+    public async flush(allEnvsHaveLatestInfo = true): Promise<void> {
         if (this.envs.length) {
             traceInfo('Environments added to cache', JSON.stringify(this.envs));
-            this.envs.forEach((e) => {
-                e.hasCompleteInfo = true;
-            });
+            if (allEnvsHaveLatestInfo) {
+                this.envs.forEach((e) => {
+                    e.hasLatestInfo = true;
+                });
+            }
             await this.persistentStorage.store(this.envs);
         }
     }
@@ -167,6 +176,16 @@ export class PythonEnvInfoCache extends PythonEnvsWatcher<PythonEnvCollectionCha
     }
 }
 
+async function validateInfo(env: PythonEnvInfo) {
+    const { ctime, mtime } = await getFileInfo(env.executable.filename);
+    if (ctime === env.executable.ctime && mtime === env.executable.mtime) {
+        return true;
+    }
+    env.executable.ctime = ctime;
+    env.executable.mtime = mtime;
+    return false;
+}
+
 /**
  * Build a cache of PythonEnvInfo that is ready to use.
  */
diff --git a/src/client/pythonEnvironments/base/locators/composite/envsCollectionService.ts b/src/client/pythonEnvironments/base/locators/composite/envsCollectionService.ts
index 3352441cbe75..5b89ad5c3fb6 100644
--- a/src/client/pythonEnvironments/base/locators/composite/envsCollectionService.ts
+++ b/src/client/pythonEnvironments/base/locators/composite/envsCollectionService.ts
@@ -81,7 +81,7 @@ export class EnvsCollectionService extends PythonEnvsWatcher<PythonEnvCollection
         // Note cache may have incomplete info when a refresh is happening.
         // This API is supposed to return complete info by definition, so
         // only use cache if it has complete info on an environment.
-        const cachedEnv = this.cache.getCompleteInfo(path);
+        const cachedEnv = await this.cache.getLatestInfo(path);
         if (cachedEnv) {
             return cachedEnv;
         }
diff --git a/src/client/pythonEnvironments/base/locators/composite/resolverUtils.ts b/src/client/pythonEnvironments/base/locators/composite/resolverUtils.ts
index abc08c0a7833..6ed320ecf95f 100644
--- a/src/client/pythonEnvironments/base/locators/composite/resolverUtils.ts
+++ b/src/client/pythonEnvironments/base/locators/composite/resolverUtils.ts
@@ -17,7 +17,7 @@ import {
     getInterpreterPathFromDir,
     getPythonVersionFromPath,
 } from '../../../common/commonUtils';
-import { arePathsSame, getWorkspaceFolders, isParentPath } from '../../../common/externalDependencies';
+import { arePathsSame, getFileInfo, getWorkspaceFolders, isParentPath } from '../../../common/externalDependencies';
 import { AnacondaCompanyName, Conda, isCondaEnvironment } from '../../../common/environmentManagers/conda';
 import { getPyenvVersionsDir, parsePyenvVersion } from '../../../common/environmentManagers/pyenv';
 import { Architecture, getOSType, OSType } from '../../../../common/utils/platform';
@@ -59,6 +59,9 @@ export async function resolveBasicEnv(env: BasicEnvInfo, useCache = false): Prom
     }
     setEnvDisplayString(resolvedEnv);
     resolvedEnv.id = getEnvID(resolvedEnv.executable.filename, resolvedEnv.location);
+    const { ctime, mtime } = await getFileInfo(resolvedEnv.executable.filename);
+    resolvedEnv.executable.ctime = ctime;
+    resolvedEnv.executable.mtime = mtime;
     return resolvedEnv;
 }
 
diff --git a/src/client/pythonEnvironments/common/externalDependencies.ts b/src/client/pythonEnvironments/common/externalDependencies.ts
index facdde588981..6ee5f1e5f6a1 100644
--- a/src/client/pythonEnvironments/common/externalDependencies.ts
+++ b/src/client/pythonEnvironments/common/externalDependencies.ts
@@ -102,6 +102,20 @@ export async function resolveSymbolicLink(absPath: string, stats?: fsapi.Stats):
     return absPath;
 }
 
+export async function getFileInfo(filePath: string): Promise<{ ctime: number; mtime: number }> {
+    try {
+        const data = await fsapi.lstat(filePath);
+        return {
+            ctime: data.ctime.valueOf(),
+            mtime: data.mtime.valueOf(),
+        };
+    } catch (ex) {
+        // This can fail on some cases, such as, `reparse points` on windows. So, return the
+        // time as -1. Which we treat as not set in the extension.
+        return { ctime: -1, mtime: -1 };
+    }
+}
+
 export async function isFile(filePath: string): Promise<boolean> {
     const stats = await fsapi.lstat(filePath);
     if (stats.isSymbolicLink()) {
diff --git a/src/client/pythonEnvironments/legacyIOC.ts b/src/client/pythonEnvironments/legacyIOC.ts
index ee01f018eec0..9a18aa1508fd 100644
--- a/src/client/pythonEnvironments/legacyIOC.ts
+++ b/src/client/pythonEnvironments/legacyIOC.ts
@@ -15,7 +15,6 @@ import { isParentPath } from './common/externalDependencies';
 import { EnvironmentType, PythonEnvironment } from './info';
 import { toSemverLikeVersion } from './base/info/pythonVersion';
 import { PythonVersion } from './info/pythonVersion';
-import { EnvironmentInfoServiceQueuePriority, getEnvironmentInfoService } from './base/info/environmentInfoService';
 import { createDeferred } from '../common/utils/async';
 import { PythonEnvCollectionChangedEvent } from './base/watcher';
 import { asyncFilter } from '../common/utils/arrayUtils';
@@ -170,14 +169,6 @@ class ComponentAdapter implements IComponentAdapter {
         if (!env) {
             return undefined;
         }
-        if (env?.executable.sysPrefix) {
-            const execInfoService = getEnvironmentInfoService();
-            const info = await execInfoService.getEnvironmentInfo(env, EnvironmentInfoServiceQueuePriority.High);
-            if (info) {
-                env.executable.sysPrefix = info.executable.sysPrefix;
-                env.version = info.version;
-            }
-        }
         return convertEnvInfo(env);
     }
 
diff --git a/src/test/pythonEnvironments/base/locators/composite/envsCollectionService.unit.test.ts b/src/test/pythonEnvironments/base/locators/composite/envsCollectionService.unit.test.ts
index 5ba356840f78..81648e7aeb35 100644
--- a/src/test/pythonEnvironments/base/locators/composite/envsCollectionService.unit.test.ts
+++ b/src/test/pythonEnvironments/base/locators/composite/envsCollectionService.unit.test.ts
@@ -18,10 +18,11 @@ import {
 } from '../../../../../client/pythonEnvironments/base/locator';
 import {
     createCollectionCache,
-    PythonEnvCompleteInfo,
+    PythonEnvLatestInfo,
 } from '../../../../../client/pythonEnvironments/base/locators/composite/envsCollectionCache';
 import { EnvsCollectionService } from '../../../../../client/pythonEnvironments/base/locators/composite/envsCollectionService';
 import { PythonEnvCollectionChangedEvent } from '../../../../../client/pythonEnvironments/base/watcher';
+import * as externalDependencies from '../../../../../client/pythonEnvironments/common/externalDependencies';
 import { noop } from '../../../../core';
 import { TEST_LAYOUT_ROOT } from '../../../common/commonTestConstants';
 import { SimpleLocator } from '../../common';
@@ -100,13 +101,13 @@ suite('Python envs locator - Environments Collection', async () => {
             updatedName,
         );
         if (doNotIncludeCached) {
-            return [env1, env2, env3].map((e: PythonEnvCompleteInfo) => {
-                e.hasCompleteInfo = true;
+            return [env1, env2, env3].map((e: PythonEnvLatestInfo) => {
+                e.hasLatestInfo = true;
                 return e;
             });
         }
-        return [envCached1, env1, env2, env3].map((e: PythonEnvCompleteInfo) => {
-            e.hasCompleteInfo = true;
+        return [envCached1, env1, env2, env3].map((e: PythonEnvLatestInfo) => {
+            e.hasLatestInfo = true;
             return e;
         });
     }
@@ -542,11 +543,14 @@ suite('Python envs locator - Environments Collection', async () => {
         sinon.assert.callCount(reportInterpretersChangedStub, eventData.length);
     });
 
-    test('resolveEnv() uses cache if complete info is available', async () => {
+    test('resolveEnv() uses cache if complete and up to date info is available', async () => {
         const resolvedViaLocator = buildEnvInfo({ executable: 'Resolved via locator' });
         const cachedEnvs = getCachedEnvs();
-        const env: PythonEnvCompleteInfo = cachedEnvs[0];
-        env.hasCompleteInfo = true; // Has complete info
+        const env: PythonEnvLatestInfo = cachedEnvs[0];
+        env.executable.ctime = 100;
+        env.executable.mtime = 100;
+        sinon.stub(externalDependencies, 'getFileInfo').resolves({ ctime: 100, mtime: 100 });
+        env.hasLatestInfo = true; // Has complete info
         const parentLocator = new SimpleLocator([], {
             resolve: async (e: PythonEnvInfo) => {
                 if (env.executable.filename === e.executable.filename) {
@@ -565,11 +569,40 @@ suite('Python envs locator - Environments Collection', async () => {
         sinon.assert.calledOnce(reportInterpretersChangedStub);
     });
 
+    test('resolveEnv() uses underlying locator if cache does not have up to date info for env', async () => {
+        const cachedEnvs = getCachedEnvs();
+        const env: PythonEnvLatestInfo = cachedEnvs[0];
+        const resolvedViaLocator = buildEnvInfo({
+            executable: env.executable.filename,
+            sysPrefix: 'Resolved via locator',
+        });
+        env.executable.ctime = 101;
+        env.executable.mtime = 90;
+        sinon.stub(externalDependencies, 'getFileInfo').resolves({ ctime: 100, mtime: 100 });
+        env.hasLatestInfo = true; // Has complete info
+        const parentLocator = new SimpleLocator([], {
+            resolve: async (e: PythonEnvInfo) => {
+                if (env.executable.filename === e.executable.filename) {
+                    return resolvedViaLocator;
+                }
+                return undefined;
+            },
+        });
+        const cache = await createCollectionCache({
+            load: async () => cachedEnvs,
+            store: async () => noop(),
+        });
+        collectionService = new EnvsCollectionService(cache, parentLocator);
+        const resolved = await collectionService.resolveEnv(env.executable.filename);
+        assertEnvEqual(resolved, resolvedViaLocator);
+        sinon.assert.calledOnce(reportInterpretersChangedStub);
+    });
+
     test('resolveEnv() uses underlying locator if cache does not have complete info for env', async () => {
         const resolvedViaLocator = buildEnvInfo({ executable: 'Resolved via locator' });
         const cachedEnvs = getCachedEnvs();
-        const env: PythonEnvCompleteInfo = cachedEnvs[0];
-        env.hasCompleteInfo = false; // Does not have complete info
+        const env: PythonEnvLatestInfo = cachedEnvs[0];
+        env.hasLatestInfo = false; // Does not have complete info
         const parentLocator = new SimpleLocator([], {
             resolve: async (e: PythonEnvInfo) => {
                 if (env.executable.filename === e.executable.filename) {
@@ -618,11 +651,11 @@ suite('Python envs locator - Environments Collection', async () => {
             store: async () => noop(),
         });
         collectionService = new EnvsCollectionService(cache, parentLocator);
-        const resolved: PythonEnvCompleteInfo | undefined = await collectionService.resolveEnv(
+        const resolved: PythonEnvLatestInfo | undefined = await collectionService.resolveEnv(
             resolvedViaLocator.executable.filename,
         );
         const envs = collectionService.getEnvs();
-        expect(resolved?.hasCompleteInfo).to.equal(true);
+        expect(resolved?.hasLatestInfo).to.equal(true);
         assertEnvsEqual(envs, [resolved]);
         sinon.assert.calledOnceWithExactly(reportInterpretersChangedStub, [
             { path: resolved?.executable.filename, type: 'add' },