Print   Close

Nandan Nilekani says allegations against Infosys co-founders 'mischievous insinuations'

BusinessToday.In     November 6, 2019

Infosys Ltd Chairman Nandan Nilekani has condemned the recent reports of involvement of company co-founders in the recent whistleblower allegations of 'unethical practices' at Infosys. In a statement issued on Wednesday, the Infosys Chairman termed these allegations "mischievous insinuations" and said they seemed to be aimed at tarnishing their image. The response came after a Moneycontrol report quoted a source saying an Infosys co-founder and a former senior executive conspired with the whistleblowers who alleged corporate governance issues at India's major tech services company.

"These speculations are appalling and seem to be aimed at tarnishing the image of some of the most accomplished and respected individuals. I have a deep regard for the life-long contribution of all our co-founders," Nilekani said.

Backing his former colleagues and founders, Nilekani said they had built Infosys and served it "selflessly". "...Even today, remain committed to the long-term success of Infosys," he added.

Also read: Infosys Chairman Nilekani recuses CEO Parekh, CFO Roy from investigation of allegations

As reported earlier, Infosys has appointed an audit committee to probe and an external law firm to conduct an independent investigation into the allegations made in the complaints. "We will share the outcome of the investigation at the relevant time with all stakeholders," it said.

Infosys said on Monday it received no evidence to corroborate anonymous whistleblowers' complaints that alleged "unethical practices" by the company's top officials, including CEO Salil Parekh and COO Nilanjan Roy. "There is no supporting evidence that has been received by the company along with these anonymous complaints to substantiate the allegations," the company said.

In a complaint letter to the board of Infosys and the US Securities and Exchange Commission (SEC), the anonymous employees' group, named Ethical Employees, had claimed they were asked not to "fully recognise costs like visa costs" in last quarter to show more profit. And when the auditor pointed it out, the issue was postponed by the company, they alleged. They also accused Parekh and Roy of "unethical practices".

Also read: Infosys Chairman Nilekani recuses CEO Parekh, CFO Roy from investigation of allegations

Also read: Infosys pays for CEO Salil Parekh's weekly personal trips, alleges whistleblower letter

Edited by Manoj Sharma


URL for this article :
https://www.businesstoday.in/current/corporate/nandan-nilekani-allegations-against-infosys-cofounders-mischievous-insinuations/story/388751.html
 
@ Copyright 2019 India Today Group.