Infosys says no prima facie evidence on whistleblower complaints
5 years, 2 months ago

Infosys says no prima facie evidence on whistleblower complaints

Live Mint  

Infosys today said that it is yet to receive any evidence to corroborate whistleblower complaints against top executives. "With respect to the anonymous complaints, there is no prima facie evidence that the company has received until date to corroborate any of the allegations made. Infosys however said that the anonymous complaints are still under investigation and the "company is not in a position to determine the concreteness, credibility and materiality of the anonymous complaints." Infosys shares took a knock after the Indian software services exporter had said last month that it had received whistleblower complaints against company's executives, alleging "unethical practices". The whistleblower complaints have 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 had said in a statement.

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History of this topic

Infosys CEO settles insider trading case with Sebi; pays ₹25 lakh
6 months, 1 week ago

Infosys CEO settles insider trading case with Sebi; pays ₹25 lakh

The Hindu  

Infosys CEO Salil Parekh settled charges for failing to place adequate internal controls to prevent insider trading at India's No.2 IT services exporter during a 2020 contract, the country's markets regulator said on Thursday. Mr. Parekh agreed to pay 2.5 million rupees to settle the markets regulator's charge, which related to a contract for Infosys to provide U.S. financial firm …

Infosys shares jump nearly 13% as US SEC concludes probe in whistleblower case; market cap soars by Rs 28,489 cr
4 years, 9 months ago

Infosys shares jump nearly 13% as US SEC concludes probe in whistleblower case; market cap soars by Rs 28,489 cr

Firstpost  

Shares of Infosys on Tuesday jumped nearly 13 percent after the company said the US Securities and Exchange Commission has concluded the investigation in the whistleblower allegations made last year, and that it does not anticipate any further action by the regulator New Delhi: Shares of Infosys on Tuesday jumped nearly 13 percent after the company said the US Securities …

Infosys says US SEC concludes probe in whistleblower case; no further action expected
4 years, 9 months ago

Infosys says US SEC concludes probe in whistleblower case; no further action expected

Firstpost  

Infosys on Tuesday said the US Securities and Exchange Commission has concluded the investigation in the whistleblower allegations made last year, and that it does not anticipate any further action by the regulator New Delhi: Infosys on Tuesday said the US Securities and Exchange Commission has concluded the investigation in the whistleblower allegations made last year, and that it does …

Infosys sacks 3 employees held on fraud charges
4 years, 10 months ago

Infosys sacks 3 employees held on fraud charges

India TV News  

Global software major Infosys on Monday sacked three of its techies who were arrested on a bribe charge levelled by the Income Tax Department, said a company official. "The three were arrested for contacting taxpayers and promising to get them tax rebates in lieu of 4 per cent of the total amount involved," Bengaluru South East Division Deputy Commissioner of …

Infosys whistleblower case: SEBI may call for forensic audit on allegations of financial irregularities in IT major
4 years, 11 months ago

Infosys whistleblower case: SEBI may call for forensic audit on allegations of financial irregularities in IT major

Firstpost  

In October last year, Infosys had informed the stock exchanges of having received anonymous whistleblowers’ complaints alleging certain unethical practices by the top management. The SEBI is likely to call for a forensic audit of the books of Infosys as it continues to probe whistleblower allegations of alleged financial irregularities at the company, according to sources. Former Securities and Exchange …

Infosys shares jump over 5% after company reports 24% rise in consolidated net profit for December quarter
4 years, 11 months ago

Infosys shares jump over 5% after company reports 24% rise in consolidated net profit for December quarter

Firstpost  

New Delhi: Shares of Infosys on Monday jumped over 5 percent after the company reported a 23.7 percent rise in consolidated net profit for the December quarter. Infosys on Friday said its audit committee has found no evidence of financial impropriety or executive misconduct, virtually giving a clean chit to CEO Salil Parekh and CFO Nilanjan Roy who were accused …

Nandan Nilekani defends Infosys concealing whistleblowers’ complaints
4 years, 11 months ago

Nandan Nilekani defends Infosys concealing whistleblowers’ complaints

Live Mint  

The global software major was absolutely right in concealing the whistleblowers' complaints from the regulators and the media, Infosys chairman Nandan Nilekani has said. Admitting that a company was duty-bound to take on record a whistleblower's complaint, Nilekani said a report was made on it after due diligence and investigation by an audit committee, set up to probe the charges …

Infosys whistleblower complaints probe: IT major says audit committee finds no evidence of financial impropriety or executive misconduct
5 years ago

Infosys whistleblower complaints probe: IT major says audit committee finds no evidence of financial impropriety or executive misconduct

Firstpost  

Infosys on Friday said the board’s audit committee has completed the independent probe into the anonymous whistleblower allegations and found “no evidence” of financial impropriety or executive misconduct Country’s second-largest IT major Infosys on Friday said the board’s audit committee has completed the independent probe into the anonymous whistleblower allegations and found that there is “no evidence” of financial impropriety …

Infosys row: IT major says not aware of any complaints against company other than one disclosed to bourses in October
5 years ago

Infosys row: IT major says not aware of any complaints against company other than one disclosed to bourses in October

Firstpost  

Infosys, in a regulatory filing on Friday, said the company is aware of several reports referencing an additional securities class-action lawsuit against Infosys. The clarification comes amid reports of the US-based Schall Law Firm saying it has filed a class-action lawsuit against Infosys to recover losses suffered by investors in the wake of allegations of “unethical practices” at the Indian …

Infosys faces yet another class-action lawsuit in US to recover losses suffered by investors
5 years ago

Infosys faces yet another class-action lawsuit in US to recover losses suffered by investors

Firstpost  

US-based Schall Law Firm has said it will file a class-action lawsuit against Infosys Ltd to recover losses suffered by investors in the wake of allegations of “unethical practices” at the Indian IT major New Delhi: US-based Schall Law Firm has said it will file a class-action lawsuit against Infosys Ltd to recover losses suffered by investors in the wake …

Infosys faces class action lawsuit in US for false financial statements
5 years ago

Infosys faces class action lawsuit in US for false financial statements

Live Mint  

The Schall Law Firm, a shareholder rights litigation firm based in Los Angeles has announced the filing of a class action lawsuit against Infosys Limited. The class action lawsuit against Infosys Limited listed on NYSE for violations of 10 and 20 of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the US Securities and Exchange Commission. …

Infosys clarifies on whistleblower complaint reports
5 years, 1 month ago

Infosys clarifies on whistleblower complaint reports

Live Mint  

Infosys has clarified that recent media reports, which claimed that the company is hit by a fresh whistleblower complaint, refer to substantially the same charges made in the plaint that was disclosed by the IT firm last month. Stock exchanges last week had sought clarification from the company over the media reports that suggested the company was 'hit by another …

Infosys clarifies on media reports on fresh whistleblower complaint; says refers to same charges made last month – Firstpost
5 years, 1 month ago

Infosys clarifies on media reports on fresh whistleblower complaint; says refers to same charges made last month – Firstpost

Firstpost  

In October, Infosys had informed the stock exchanges of having received anonymous whistleblowers’ complaints alleging certain unethical practices by the top management. New Delhi: Infosys on Tuesday clarified that recent media reports, which claimed that the company is hit by a fresh whistleblower complaint, refer to substantially the same charges made in the plaint that was disclosed by the IT …

Infosys row: Now another whistleblower accuses CEO Salil Parekh of financial irregularities, seeks action to recover money
5 years, 1 month ago

Infosys row: Now another whistleblower accuses CEO Salil Parekh of financial irregularities, seeks action to recover money

Firstpost  

On 22 October, Nilekani had said the Infosys’ audit committee would conduct an independent investigation on whistleblower allegations of Parekh and Roy. Four business-class tickets per month plus home to airport drop in Mumbai, airport pick-up in Bengaluru and drops on the return journey,” the report said, citing whistleblower’s allegation in the letter. On 22 October, Nilekani had said the …

Infosys CEO hit by more charges in second whistleblower letter
5 years, 1 month ago

Infosys CEO hit by more charges in second whistleblower letter

Live Mint  

Bengaluru: Infosys Ltd has received a second whistleblower complaint accusing chief executive Salil Parekh of misdemeanours, days after a similar letter prompted the company’s board to institute an independent probe. What is stopping the board to insist on his movement to Bengaluru,” said the whistleblower in the unsigned letter to Infosys chairman and co-founder Nandan Nilekani and independent directors. Please …

Another whistleblower guns at Infosys' Salil Parekh
5 years, 1 month ago

Another whistleblower guns at Infosys' Salil Parekh

India TV News  

Another whistleblower from global software major Infosys accused its Chief Executive Officer Salil Parekh of committing misdeeds and urged the Chairman and the board of directors to act against him on his volatile complaints. What is stopping the board to insist on his movement to Bengaluru," said the whistleblower in an unsigned and undated letter to Infosys Chairman and co-founder …

Another whistleblower guns at Infosys’ Salil Parekh
5 years, 1 month ago

Another whistleblower guns at Infosys’ Salil Parekh

Live Mint  

Bengaluru: Another whistleblower from global software major Infosys accused its Chief Executive Officer Salil Parekh of committing misdeeds and urged the Chairman and the board of directors to act against him on his volatile complaints. What is stopping the board to insist on his movement to Bengaluru," said the whistleblower in an unsigned and undated letter to Infosys Chairman and …

Infosys plans to hire another law firm to strengthen investigation into whistleblowers' allegations: Report
5 years, 1 month ago

Infosys plans to hire another law firm to strengthen investigation into whistleblowers' allegations: Report

Firstpost  

A whistleblower letter stating alleged financial misconduct and “unethical practice” against Infosys Chief Executive Officer Salil Parekh and chief financial officer Nilanjan Roy Infosys is considering appointing law firms JSA Law or Khaitan & Co in a bid to strengthen the investigation into allegations by whistleblowers against top company executives, people familiar with the development told Moneycontrol. “There is no …

Infosys stock up 1% a day after Nandan Nilekani invokes God
5 years, 2 months ago

Infosys stock up 1% a day after Nandan Nilekani invokes God

Live Mint  

New Delhi: Shares of Infosys Limited inched higher by over 1% on Thursday, a day after Chairman Nandan Nilekani came out in defence of the company’s management. The shares had closed with gains of 2.4% on Wednesday as investors reacted positively to Nilekani’s statement that even God couldn’t change the company’s numbers. Defending the company’s co-founders, Nilekani said, “Infosys has …

Infosys whistleblower complaints mischievous, says Nandan Nilekani
5 years, 2 months ago

Infosys whistleblower complaints mischievous, says Nandan Nilekani

Live Mint  

Infosys, Nandan Nilekani, whistleblower complaints, Infosys co-founders, Infosys Audit Committee, Infosys stocks Infosys chairman Nandan Nilekani on Wednesday strongly condemned the whistleblower complaints against the company co-founders and his former colleagues, saying these were "mischievous" in nature. Referring to the anonymous complaints in a stock exchange filing, Nilekani said: "These speculations are appalling and seem to be aimed at tarnishing …

Infosys committed to highest corporate governance standards: Nandan Nilekani
5 years, 2 months ago

Infosys committed to highest corporate governance standards: Nandan Nilekani

Live Mint  

Infosys Ltd chairman Nandan Nilekani on Wednesday said the company will take necessary steps if investigation into whistleblower complaints substantiates claims of corporate misgovernance, adding that the firm has responded responsibly and complied with applicable laws and past practices. “…Infosys is committed to defining and following highest corporate governance standards,” Nilekani said in the conference call with analysts. They have …

Opinion | Infosys assures stakeholders
5 years, 2 months ago

Opinion | Infosys assures stakeholders

Live Mint  

Infosys shares surged on Monday after the software exporter said it had yet to receive any evidence that could prima facie substantiate whistleblower allegations against the company’s top management. Some anonymous employees had alleged that Infosys CEO Salil Parekh and its finance head Nilanjan Roy had indulged in “unethical accounting practices” in order underplay costs and portray higher profits. While …

Infosys says no prima facie evidence to back whistleblower complaints; shares up 6.5% in morning trade
5 years, 2 months ago

Infosys says no prima facie evidence to back whistleblower complaints; shares up 6.5% in morning trade

Firstpost  

Indian IT services major Infosys Ltd said on Monday it received no evidence to support the allegations in a whistleblower letter from last month, sending shares up as much as 6.5 percent in morning trade Bengaluru: Indian IT services major Infosys Ltd said on Monday it received no evidence to support the allegations in a whistleblower letter from last month, …

Infosys data has no visible inconsistency as alleged in whistleblower letter: ICICI Securities report
5 years, 2 months ago

Infosys data has no visible inconsistency as alleged in whistleblower letter: ICICI Securities report

Live Mint  

Data points shared by Infosys Ltd., do not have any “perceivable inconsistency” as alleged in a whistleblower letter, according to a report by ICICI Securities. “Some of the data points shared by Infosys, like Verizon deal being margin dilutive by 40 basis points, or visa costs being a margin drag of 80 basis points in Q1FY20, or Stater deal being …

Infosys row: Govt seeks details on wistleblower complaint to US market regulator against IT firm's management
5 years, 2 months ago

Infosys row: Govt seeks details on wistleblower complaint to US market regulator against IT firm's management

Firstpost  

Last week, it was reported that the market regulator Securities and Exchange Board of India might seek clarification from Infosys management on charges levelled by the whistleblower. The government reportedly asked details from Information Technology major Infosys about the whistleblower’s complaint to the US market regulator against the company’s management, said a media report. After a group namely ‘Ethical Employees’ …

Whistleblowers will not leave Infosys alone, has ICICI Bank emerged from lost decade; all this and more on Moneycontrol Pro
5 years, 2 months ago

Whistleblowers will not leave Infosys alone, has ICICI Bank emerged from lost decade; all this and more on Moneycontrol Pro

Firstpost  

A pattern of sorts seems to have emerged at Infosys when it comes to whistleblower complaints. Global Markets | Look at the Fed chief’s view for cues The probability of the US Federal Reserve reducing the Fed Funds rate by another 25 basis points to 150-175 basis points, at its meeting this week, is as high as 94 percent, according …

MCA seeks information from Infosys on whistleblower complaints
5 years, 2 months ago

MCA seeks information from Infosys on whistleblower complaints

Live Mint  

New Delhi: The Ministry of Corporate Affairs has sought information from Infosys Ltd regarding the anonymous whistleblower complaints which have triggered an investigation by the US Securities and Exchange Commission. The move is the first step that the ministry takes when it takes cognizance of complaints or material information warranting government attention about any company, said a person familiar with …

Infosys row: US SEC to seek SEBI's cooperation into whistleblower allegations against IT-company
5 years, 2 months ago

Infosys row: US SEC to seek SEBI's cooperation into whistleblower allegations against IT-company

Firstpost  

New Delhi: US market regulator SEC will be seeking cooperation from its Indian counterpart SEBI in its probe into Infosys, which has been rocked by whistleblower complaints of several alleged irregularities, sources said on Friday. The SEC has initiated a probe on whistleblower complaints that alleged “unethical practices” by top management of Infosys and Bengaluru-based IT major has said it …

Infosys whistleblower complaint probe: IT major asks investigators to complete probe in two week's time
5 years, 2 months ago

Infosys whistleblower complaint probe: IT major asks investigators to complete probe in two week's time

Firstpost  

Nandan Nilekani, the non-executive chairman will lead the team, which will be assisted by Inderpreet Sawhney, the general counsel at Infosys Infosys, India’s IT major, wants the probes into the company’s alleged ‘irregularities’ to be completed with soon, according to news reports. Infosys, India’s second-biggest IT services firm by revenue after Tata Consultancy Services Ltd, on Tuesday said it was …

Infosys row: National Financial Reporting Authority to look into alleged accounting irregularities at IT-company
5 years, 2 months ago

Infosys row: National Financial Reporting Authority to look into alleged accounting irregularities at IT-company

Firstpost  

The government has asked the National Financial Reporting Authority to look into alleged accounting irregularities at Infosys in the wake of whistleblower complaints, a senior official said on Thursday New Delhi: In mounting woes for Infosys, the government has asked the National Financial Reporting Authority to look into alleged accounting irregularities at the IT major in the wake of whistleblower …

US regulator probing whistleblower's charges: Infosys
5 years, 2 months ago

US regulator probing whistleblower's charges: Infosys

India TV News  

Global software major Infosys on Thursday said American capital markets regulator Securities and Exchange Commission has initiated a probe into the alleged unethical business practices of Chief Executive Salil Parekh and Chief Financial Officer Nilanjan Roy. "The Company has been in touch with the Securities and Exchange Commission regarding the anonymous whistleblower complaints and has learnt that the SEC has …

Infosys shares fall over 2% after SEBI, US SEC initiate probe into whistleblower allegations
5 years, 2 months ago

Infosys shares fall over 2% after SEBI, US SEC initiate probe into whistleblower allegations

Firstpost  

Infosys shares on Thursday declined over 2 percent after the Securities and Exchange Board of India and US Securities and Exchange Commission initiated probe following the whistleblower complaints New Delhi: Infosys shares on Thursday declined over 2 percent after the Securities and Exchange Board of India and US Securities and Exchange Commission initiated probe following the whistleblower complaints. On Monday, …

Infosys Shares Fall by 2 Percent After Sebi, US Securities Initiate Probe into Whistleblower Allegations
5 years, 2 months ago

Infosys Shares Fall by 2 Percent After Sebi, US Securities Initiate Probe into Whistleblower Allegations

News 18  

New Delhi: Infosys shares on Thursday declined 2 per cent after Securities and Exchange Board of India and US Securities and Exchange Commission initiated probe following the whistleblower complaints. On Monday, Infosys informed stock exchanges about anonymous whistleblower complaints alleging certain unethical practices. "The company has been in touch with the Securities and Exchange Commission regarding the anonymous whistleblower complaints …

Infosys: SEC has initiated investigation into whistleblower complaint
5 years, 2 months ago

Infosys: SEC has initiated investigation into whistleblower complaint

Live Mint  

IT services major Infosys Ltd on Thursday said that the US Securities and Exchange Commission has initiated an investigation into the whistleblower complaint against its CEO and CFO, the company said in a statement. "The company has been in touch with the Securities and Exchange Commission regarding the anonymous whistleblower complaints and has learnt that the SEC has initiated an …

Infosys whistleblower row: US SEC initiates investigation into allegations of 'unethical practices' in India's IT major
5 years, 2 months ago

Infosys whistleblower row: US SEC initiates investigation into allegations of 'unethical practices' in India's IT major

Firstpost  

“The company will cooperate with the SEC’s investigation,” Infosys said in a statement. Infosys on Thursday said US market regulator SEC has initiated a probe on the whistleblower complaints that alleged “unethical practices” by top management of the IT major to boost revenues. Infosys said it is also “aware of a securities class action lawsuit” that has been filed against …

Infosys says US agency initiates probe into whistleblower allegations
5 years, 2 months ago

Infosys says US agency initiates probe into whistleblower allegations

Live Mint  

The US Securities and Exchange Commission has initiated an investigation into whistleblower complaints, Infosys said in a statement to stock exchanges today. "The company has been in touch with the Securities and Exchange Commission regarding the anonymous whistleblower complaints and has learnt that the SEC has initiated an investigation into this matter," the IT company said. Infosys shares are also …

Infosys, whistleblowers and an issue that refuses to die
5 years, 2 months ago

Infosys, whistleblowers and an issue that refuses to die

Live Mint  

For the third time in six years, a cloud of questionable internal practices hangs heavy over Infosys Ltd, once seen as the paragon of corporate virtue in India. In the latest instance, an anonymous group called ‘Ethical Employees’ has complained to the Infosys board and the US Securities and Exchange Commission, alleging accounting jugglery to boost short-term revenue and profits. …

Infosys row: SEBI starts probe against IT-company over whistleblower charges, corporate governance lapses
5 years, 2 months ago

Infosys row: SEBI starts probe against IT-company over whistleblower charges, corporate governance lapses

Firstpost  

Markets regulator SEBI has begun its probe into alleged non-disclosure of price-sensitive information by Infosys’ management and also corporate governance lapses in the wake of serious allegations levelled by a whistleblower, while it is also examining possible insider trading in the company’s securities New Delhi: Markets regulator SEBI has begun its probe into alleged non-disclosure of price-sensitive information by Infosys’ …

SEBI starts probe against Infosys over whistleblower charges
5 years, 2 months ago

SEBI starts probe against Infosys over whistleblower charges

India TV News  

Markets regulator Sebi has begun its probe into alleged non-disclosure of price-sensitive information by Infosys' management and also corporate governance lapses in the wake of serious allegations levelled by a whistleblower, while it is also examining possible insider trading in the company's securities. Meanwhile, leading exchange BSE on Wednesday asked Infosys to explain why it did not make a disclosure …

BSE seeks explanation from Infosys on non-disclosure of whistleblower complaint
5 years, 2 months ago

BSE seeks explanation from Infosys on non-disclosure of whistleblower complaint

India TV News  

Leading exchange BSE on Wednesday asked Infosys to explain why it did not make a disclosure about a whistleblower complaint which alleged that the company's top executives were following "unethical practices" to shore up profits through irregular accounting ways. On Tuesday, Infosys Chairman Nandan Nilekani said the whistleblower complaint dated September 20 had been placed before the audit committee on …

Infosys row: BSE seeks explanation from IT-company on non-disclosure of whistleblower complaint
5 years, 2 months ago

Infosys row: BSE seeks explanation from IT-company on non-disclosure of whistleblower complaint

Firstpost  

New Delhi: Leading exchange BSE on Wednesday asked Infosys to explain why it did not make a disclosure about a whistleblower complaint which alleged that the company’s top executives were following “unethical practices” to shore up profits through irregular accounting ways. On Tuesday, Infosys Chairman Nandan Nilekani said the whistleblower complaint dated 20 September had been placed before the audit …

Sebi probing huge derivatives position in Infosys before whistleblower complaint became public
5 years, 2 months ago

Sebi probing huge derivatives position in Infosys before whistleblower complaint became public

Live Mint  

Mumbai: Markets regulator Securities and Exchange Board of India is probing the buildup of huge derivatives positions in Infosys stock before allegations of accounting malpractices went public, said two people with direct knowledge of the matter. The whistleblower complaint made to the management and US Securities and Exchange Commission became public on 21 October. The whistleblower complaint accused the company’s …

Infosys flirts with crisis again after whistle-blowers attack CEO
5 years, 2 months ago

Infosys flirts with crisis again after whistle-blowers attack CEO

Live Mint  

The dust had barely settled at Infosys Ltd. when Asia’s No. Sikka and Parekh, a former Capgemini SE executive, were the first outside professionals brought in to run the 38-year-old company, after several decades of co-founders taking turns to occupy the CEO’s office. Infosys’s shares have gained 50% since Parekh took the helm in January 2018, versus roughly 20% over …

Infosys headed for more trouble; SEBI may seek clarification on whistleblower's complaint, says report
5 years, 2 months ago

Infosys headed for more trouble; SEBI may seek clarification on whistleblower's complaint, says report

Firstpost  

The Securities and Exchange Board of India may seek clarification from Infosys’ management on charges level levelled by the whistle-blower Infosys is headed for a deeper crisis with news reports suggesting the Securities and Exchange Board of India, market regulator, is likely to seek clarification from the IT giant over the complaint. The Securities and Exchange Board of India may …

Infosys shares crash after whistle-blowers complain
5 years, 2 months ago

Infosys shares crash after whistle-blowers complain

Hindustan Times  

Infosys Ltd on Tuesday scrambled to contain the fallout from allegations of accounting malpractices that sent its shares plunging the most in more than six years by hiring accounting firm EY and law firm Shardul Amarchand Mangaldas & Co. to examine the claims made by whistle-blowers. In a statement, Infosys chairman Nandan Nilekani said that the company’s audit committee began …

Infosys in damage control mode as stock plunges
5 years, 2 months ago

Infosys in damage control mode as stock plunges

Live Mint  

Mumbai/Bengaluru: Infosys Ltd on Tuesday scrambled to contain the fallout from allegations of accounting malpractices that sent its shares plunging the most in more than six years by engaging accounting firm EY and law firm Shardul Amarchand Mangaldas & Co. to examine the claims made by whistleblowers. In a statement, Infosys chairman Nandan Nilekani said that the company’s audit committee …

Whistleblower allegations at Infosys—To trust or not?
5 years, 2 months ago

Whistleblower allegations at Infosys—To trust or not?

Live Mint  

The recent whistleblower complaints have dented Infosys’s stellar reputation. Unlike the 2015 ESOP plan, which was time-vested, the 2019 stock vesting was purely performance-vested, linked to multiple performance metrics, mostly, total shareholder returns, revenue growth and operating margins. It was thought that the 2019 performance-linked plan would ensure that stock ownership by employees based on company performance, would align with …

Infosys shares nosedive nearly 17% on whistleblower complaint; market-cap drops by Rs 53,451 cr
5 years, 2 months ago

Infosys shares nosedive nearly 17% on whistleblower complaint; market-cap drops by Rs 53,451 cr

Firstpost  

Shares of IT services firm Infosys on Tuesday plummeted nearly 17 percent, wiping Rs 53,451 crore from its market valuation, on concerns over a whistleblower complaint which alleged that two top executives of the company were indulging in unethical practices to increase short-term revenue and profits New Delhi: Shares of IT services firm Infosys on Tuesday plummeted nearly 17 percent, …

Infosys share price crash wipes ₹53,452 crore off its market value in a day
5 years, 2 months ago

Infosys share price crash wipes ₹53,452 crore off its market value in a day

Live Mint  

Shares of Infosys Ltd today crashed 16% to ₹643.30 after India's No.2 software services exporter said it is investigating whistleblower claims accusing its top two executives of "unethical practices" to boost short-term profit. The allegations could start a fresh storm at Infosys, which just two years ago endured a shake-up that saw its then CEO Vishal Sikka leave after a …

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