Infosys says audit committee to look into anonymous complaint
BENGALURU: Infosys said its audit committee was looking into the anonymous complaint sent to the stock exchange regulators and media and had begun to take steps to investigate.
All complaints are placed before the audit committee under the company’s whistleblower policy.
On Sunday, a complainant sent a letter to the regulators at the Securities and Exchange Board of India and the US Securities and Exchange Commission alleging that the Panaya acquisition was overvalued and that it was possible that some Infosys executives had benefitted from the deal.
Infosys has denied the allegations made in the anonymous letter and stated that no member of the Infosys management team was involved in prior investments in Panaya.
The beleaguered Bengaluru-headquartered IT firm also said that insinuations that people in the management team at Infosys benefitted from the transaction was misleading and slanderous.
ET had reported that the acquisition of Panaya was at the heart of the company's corporate governance troubles. Former CFO Rajiv Bansal, who received an outsize severance payment, was not in favour of the transaction, four sources had told ET.
All complaints are placed before the audit committee under the company’s whistleblower policy.
On Sunday, a complainant sent a letter to the regulators at the Securities and Exchange Board of India and the US Securities and Exchange Commission alleging that the Panaya acquisition was overvalued and that it was possible that some Infosys executives had benefitted from the deal.
Infosys has denied the allegations made in the anonymous letter and stated that no member of the Infosys management team was involved in prior investments in Panaya.
The beleaguered Bengaluru-headquartered IT firm also said that insinuations that people in the management team at Infosys benefitted from the transaction was misleading and slanderous.
ET had reported that the acquisition of Panaya was at the heart of the company's corporate governance troubles. Former CFO Rajiv Bansal, who received an outsize severance payment, was not in favour of the transaction, four sources had told ET.
