(From left) Infosys CFO Nilanjan Roy, COO UB Pravin Rao, and CEO Salil Parekh
The anonymous employee group which has accused Infosys CEO Salil Parekh and CFO Nilanjan Roy of indulging in unethical practices has claimed they have emails and voice recordings to back their claims. In its complaint to the Infosys board, the group said they have enclosed the copies of proof, seeking "immediate investigation". "The voice recordings and emails show how CEO and CFO wanted this to be pushed bypassing auditors and threatened changes of auditors," says the letter.
The letter alleges that the group was forced not to take charge since it would have impacted the company's "profits and stock price". "Voice recordings have instructions from CEO and CFO not to present to the board or share important information to auditors," alleges the letter. The letter says they have enclosed emails regarding "irregularities in revenue recognition in Verizon, ABN, Intel, Japan JV deals", including purported voice recording of CFO Nilanjan Roy on not sharing such information to the company auditors and its board.
The letter has accused Infosys CEO Salil Parekh of bypassing reviews of large deals and hiding information from auditors and the company board. The letter says CFO Roy is "compliant". "He (Salil Parek) directs them to make wrong assumptions to show margins. CFO is compliant and he prevents us from showing in board presentations large deal issues."
Infosys CFO Nilanjan Roy has also been accused of "changing investment policy and accounting" without necessary approvals from the board and auditors to boost short-term profits for Infosys. "The voice recording is a large file, so we have enclosed them in Pendrive 'Truth 1". We have electronic copies of emails in pen drive 'Truth 2'. They are password protected and password is sent by email," says the letter by the anonymous employees.
Meanwhile, the company in a statement, has said it's investigating the charges. "The whistleblower complaint has been placed before the Audit Committee as per the company's practice and will be dealt with in accordance with the company's whistleblowers' policy," Infosys statement said.