Why the trouble at Infosys is unlikely to abate quickly.
CROSSING SWORDS
These are the 10 broad sets of allegations being made by an anonymous whistleblower at Infosys, some of which have also been flagged by the founders of the company. Infosys’ board and its management have responded to these charges
ALLEGATIONS
VIOLATION OF GOVERNANCE NORMS: Former CFO Rajiv Bansal as well as Chief Compliance Officer David Kennedy were paid large amounts of money to ‘hush up’ things including aggressive accounting practices
VERY BIG JUMP IN CEO SALARY: Salary of $11 mn per annum very high compared to that of an average employee and even other Indian companies chief executives
HIRING VIOLATIONS: Ex-SAP colleagues of Sikka hired at fancy packages and given out of turn promotions
MISUSE OF COMPANY PRIVILEGES: Chartered flights being used by CEO. Executives close to Sikka flying first class without honouring expense policy
PROFLIGATE : Office in Palo Alto, Bay Area leased on high street at great cost. Focus on appearances rather than results.
DIRECTORS APPOINTMENT: Punita Kumar Sinha, wife of Union minister Jayant Sinha, and a few others done for non-meritocratic reasons
MOTIVES IN ACQUISITION: In deals like Panaya and Skava, there were other motives apart from getting the best for Infosys.
LACK OF CONSULTATION AND COMMUNICATION: Founders as well as senior ex- Infoscians, who are well wishers of the company, not being consulted adequately on substantial decisions
COMPANY CULTURE BEING SUBVERTED: High degree of transparency, adherence to ethics and a culture of frugality being given a go-by
Denne historien er fra March 12, 2017-utgaven av Business Today.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra March 12, 2017-utgaven av Business Today.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Pension Scheme - Safety Net
The move to introduce the UPS has evoked mixed reactions. Analysts believe its funding will have limited impact on the fiscal math
The Reit Choice?
Real Estate Investment Trusts (Reits) Are Gaining Traction As Interest Rates Stabilise. But Returns Could Be Affected By Adverse Economic Conditions And Market Volatility
CORPORATE - Calling to Account
The sudden exit of Byju's auditor BDO marks the latest in a long series of setbacks for the edtech firm
EMPLOYMENT: Skills Push
The skill development ministry plans to partner with the UGC to improve the employability of undergraduates
Building on a Vision
L&T'S CHAIRMAN EMERITUS A. M. NAIK HAS BUILT A MAMMOTH ENTERPRISE THAT IS BUILDING A NEW INDIA, FROM ITS METRO RAIL SYSTEMS TO THE RAM TEMPLE
"KYS more important than KYC"
Vijay Kedia is a renowned equity investor; the value of his listed portfolio stands at around ₹1,750 crore
ROXX STAR
THE THAR ROXX COMBINES LUXURY WITH PERFORMANCE TO MAKE A STRONG STATEMENT IN THE MID-SIZE SUV SEGMENT
HIT THE GROUND RUNNING
Smartwatches have become indispensable tools for runners, offering real-time insights into pace, distance, heart rate, and more. Here are a few you can consider
TURNING THE TABLES
INDIA'S FURNITURE MARKET IS POISED FOR A GLOBAL TAKE-OFF. ALREADY, A HOST OF GLOBAL BRANDS HAVE MADE THE COUNTRY THEIR HOME, BUT INDIAN COMPANIES ARE NOT TOO FAR BEHIND
THE EVOLUTION OF ATHERA
IDENTIFYING OPPORTUNITIES IN ADVANCE HAS STOOD THIS BENGALURU-BASED VC FUND IN GOOD STEAD. NOW, WITH A HEIGHTENED FOCUS ON TECHNOLOGY, IT WANTS TO SUSTAIN THE SUCCESS