Nandan Nilekani steps in to soothe Infosys investors

Nandan Nilekani steps in to soothe Infosys investors

In an attempt to soothe investor sentiments, Infosys Chairman Nandan Nilekani on Tuesday assured investigations to the "fullest extent" into allegations of unethical practices against its Chief Executive Officer (CEO) Salil Parekh and Chief Financial Officer (CFO) Nilanjan Roy by some anonymous employees of the company.

The statement came after Infosys stocks fell over 15 per cent on the BSE on Tuesday following the complaints.

"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.

"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.

Source: IANS