Infosys pays Rs 6 lakh in compounding fees to settle ex-CFO severance payment row
4 years, 10 months ago

Infosys pays Rs 6 lakh in compounding fees to settle ex-CFO severance payment row

India TV News  

Infosys on Monday said it has paid Rs 6 lakh as compounding fees in the matter related to severance agreement with former CFO Rajiv Bansal. In November last year, Infosys submitted applications with the Registrar of Companies for compounding of certain alleged offences that pertain to matters related to the severance agreement executed with Bansal in October 2015. "The Regional Director vide its orders dated February 25, 2020, has agreed to compound the alleged offences applied for, subject to payment of compounding fees of Rs 6 lakh." Infosys had agreed to pay Bansal a severance amount of Rs 17.38 crore or 24 months of salary, but the company suspended payments after he got Rs 5 crore as co-founder N R Narayana Murthy and others objected to the package as excessive.

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History of this topic

Infosys CEO Salil Parekh Settles Insider Trading Charges with SEBI, Pays Rs 25 Lakh for Inadequate Controls
6 months, 1 week ago

Infosys CEO Salil Parekh Settles Insider Trading Charges with SEBI, Pays Rs 25 Lakh for Inadequate Controls

Live Law  

Infosys' CEO Salil Parekh has settled charges of violating provisions of insider trading. IT services giant Infosys' CEO Salil Parekh has agreed to pay Rs 25 lakh for failing to have adequate controls to prevent insider trading. Under Regulation 9A of the SEBI Regulations, 2015, CEOs and MDs of listed companies are mandated to establish effective internal controls to prevent …

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 pays Rs 6 lakh in compounding fees to settle ex-CFO Rajiv Bansal's severance payment row
4 years, 10 months ago

Infosys pays Rs 6 lakh in compounding fees to settle ex-CFO Rajiv Bansal's severance payment row

Firstpost  

Infosys had agreed to pay Bansal a severance amount of Rs 17.38 crore or 24 months of salary, but the company suspended payments after he got Rs 5 crore as co-founder NR Narayana Murthy and others objected to the package as excessive New Delhi: Infosys on Monday said it has paid Rs 6 lakh as compounding fees in the matter …

Infosys settles case with Sebi, pays ₹34 lakh towards settlement
5 years, 10 months ago

Infosys settles case with Sebi, pays ₹34 lakh towards settlement

Live Mint  

New Delhi: IT major Infosys has settled with Sebi a case of alleged disclosure lapses regarding severance payment made to its former chief financial officer Rajiv Bansal. The company paid ₹34.35 lakh to settle the case with the markets regulator, according to an order. The company in its meeting with the regulator's internal committee in February 2018 proposed to pay …

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