The CEO compensation should be reasonable enough to attract top talent while at the same time be comparable with peer group companies, said company's former CFO V Balakrishnan.

Infosys appointed Parekh last year in December. He replaced Vishal Sikka, a high-profile techie who put down his papers following the differences between the Infosys Board and its founders.

Articulate and value-based people have no heroes. Their only hero is data. They have self-confidence, dignity... To them, merit, honesty, transparency and fairness are important.

V Balakrishnan's remarks came a day after former Infosys Board member and chief financial officer T V Mohandas Pai said that the IT firm's move to settle severance pay dispute with Sebi was 'perfectly fine'.

Former Infosys CFO V Balakrishnan sought the discontinuance of certain board members in light of the company filing a settlement plea with SEBI on corporate governance lapses relating to severance payment to its former CFO Rajiv Bansal.

Infosys founders are likely to sell some of their stake in the company's Rs 13,000-crore share buyback programme, the company said.

Nilekani's appointment as the Chairman of Infosys's board of directors comes at a time when the second biggest IT company in India is going through a rough phase.

 Infosys, India's second-biggest software services exporter, has said it will consider a proposal for buyback of its equity shares at its meeting to be held on August 19.

Mortality rate among start-ups in India is not alarming, and their success ratio is actually good and on par with global trend, said an expert in information technology (IT) industry.

The Bengaluru-based firm had recently adopted a new Articles of Association that included a provision for buyback.

The company had posted a consolidated net profit of Rs 3,708 crore in the October-December quarter of FY17.

Infosys has sought shareholders' approval to change the company's Articles of Association, which includes a provision for buyback.

Why the trouble at Infosys is unlikely to abate quickly.

It's a defeatist way of looking at their business

No one could have quite expected Infosys, the darling of the Indian IT industry, to be caught in corporate governance mire, that too close on the heels of the ignominious events at the Tata Group.

India's second biggest IT services company, has been in an escalating public dispute with its founders and former executives this week, who have accused the board of lapses in corporate governance. The founders own 12.75 percent of the company.

The Bangalore-based Avekshaa Technologies works in the niche area of technology performance issues detecting software problems to help companies reduce risks as they adopt new technologies and products or do tech upgrades.

The people of Delhi were disenchanted with both the mainstream political parties and latched on to AAP, which provided a credible, focused and honest alternative.