September 18, 2018 / 6:46 AM / Updated an hour ago
Infosys says arbitrator rules in favour of ex-CFO's severance pay
(Reuters) - Infosys Ltd said on Tuesday an arbitration tribunal has ruled in favour of former chief financial officer Rajiv Bansal’s disputed severance package.
The logo of Infosys is pictured inside the company's headquarters in Bengaluru, India, April 13, 2017. REUTERS/Abhishek N. Chinnappa/Files
Infosys is required to pay Bansal the outstanding severance amount of 121.7 million rupees ($1.68 million) with interest, the company said here in a statement.
Founders of the Indian IT services company, led by Narayana Murthy, had objected to the payout to Rajiv Bansal and the ensuing row culminated in the resignation of the then CEO Vishal Sikka.
($1 = 72.4050 Indian rupees)
Reporting By Arnab Paul in Bengaluru; Editing by Darren Schuettler
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