My exit has nothing to do with Murthy's return, says Balakrishnan

Has applied to SEBI for approval to begin a private equity fund

Outgoing Infosys director, V Balakrishnan has refuted reports that his exit from Infosys has anything to do with Mr Murthy's return to the Infosys board in June this year.

Speaking to CNBC TV18, Balakrishnan said that he had been thinking of stepping down for long as he wants to get into the private equity space."Top level exits will not have any impact on Infosys," said Balakrishnan.

 

On being asked whether his exit has anything to do with the induction of Rohan Murty, son of Narayana Murthy, into the company, Balakrishnan said since Murthy has already clarified that Rohan has come in for a limited role, that cannot be the reason for his exit. 

 

Balakrishnan also said he had been talking to Mr Murthy ever since he came back on the board and while he did not want him to go, he understands his position and aspirations. He maintained that his relationship with Murthy continues to be excellent. 

 

Balakrishnan said he had already applied to Sebi for approval for a private equity fund. Mohandas Pai, Girish Paranjpe are the other partners in the venture. 

 

Infosys today announced the resignation of Director V Balakrishnan, who was widely tipped to be in the race for becoming the company's next chief executive officer when the incumbent SD Shibulal retires in 2015. 

 

The resignation is effective December 31, 2013, Infosys said in a statement.