Infosys in damage control mode after complaints of unethical practices, stock down by 14 pc
Bengaluru (Karnataka) [India], Oct 22 : Software major Infosys said on Tuesday it has engaged law firm Shardul Amarchand Mangaldas and Company to conduct an independent investigation on two complaints by some employees about unethical measures to boost profits. An anonymous group calling itself ‘ethical employees’ alleged in a letter to the board of Infosys and the US Securities and Exchange Commission (SEC) that company’s Chief Executive Officer (CEO) Salil Parekh and Chief Financial Officer (CFO) Nilanjan Roy took disturbing unethical measures to boost profits and short-term revenue. The complainants said they have emails and voice recordings to substantiate the claims. “These complaints are being dealt with in an objective manner,” said Chairman of Infosys Ltd Nandan Nilekani. “The undated whistleblower complaint largely deals with allegations relating to the CEO’s international travel to the United States and Mumbai,” he said in a statement. Nilekani said the company’s ...