On Tuesday, company’s shares dropped 14.37 per cent during intraday trade at 1307 hours.
Infosys is one of India's top information technology and consulting companies, in Bangalore, India. (Photo: iStock)
Infosys Chairman Nandan Nilekani on Tuesday assured investigations to the “fullest extent” into allegations made against the company’s Chief Executive Officer (CEO) Salil Parekh and Chief Financial Officer (CFO) Nilanjan Roy, for conducting ‘unethical practices’ in recent several quarters.
Nilekani’s statement came after company’s shares tanked in the Indian market. It was aimed to soothe the investors’ sentiments following the complaints made by employees of the IT major. On Tuesday, company’s shares dropped 14.37 per cent during intraday trade at 1307 hours.
“One Board member received two anonymous complaints on September 30, 2019, one dated September 20, 2019 titled ‘Disturbing unethical practices’ and the second undated with the title, ‘Whistleblower Complaint’,” Nilekani said in a statement to the exchanges.
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“Pursuant to our whistleblower practice, we have placed both the complaints before the Audit Committee on October 10, 2019 and before the non-executive members of the Board on October 11, 2019.”
“These complaints are being dealt with in an objective manner. The undated whistleblower complaint largely deals with allegations relating to the CEO’s international travel to the US and Mumbai,” Nilekani added.
“Our statutory auditors, Deloitte India have also been completely updated on this matter post the Board meeting of October 11, 2019,” he said.
“Because the investigation is ongoing, there will be no further comment so that investigation may be conducted in a thorough and objective manner. At an appropriate time, we will provide a summary of the investigation results,” he stressed.
(With input from agencies)
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