Infosys Whistleblower

Says Sebi must blacklist board members, officials found guilty

On Friday, the IT bellwether said that its audit committee found no evidence of financial impropriety or executive misconduct by the company

The company said the audit committee found that the 'allegations are substantially without merit'

The Audit Committee concluded that no restatement of previously announced financial statements or other published financial information is warranted, it said.

In recent times, there have been instances of alleged delays in disclosure of whistleblower complaints and bad loans

Sebi is looking into the whistleblower complaint of alleged lapses at Infosys

The whistleblower complained that he was unable to disclose his identity fearing retaliation for the damning disclosures he was making against Parekh

This is said to be the 'undated' letter that Infosys had earlier informed in regulatory filing

Further, Tyagi said the regulator was looking into concerns over firms not sharing data with credit rating agencies.

"Our goal is to close this (investigation) in the best possible time. I really can't give any timeline because that will not be fair to the investigators," Nilekani said.

Infosys condemned the "mischievous insinuations made by anonymous sources against the co-founders and former colleagues, suggesting their involvement in the recent whistleblower allegations".

Earlier this week, Infosys had said it is yet to receive any evidence to corroborate anonymous whistleblowers' complaints.

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While Murthy was relentless in his criticism of the erstwhile company board and its CEO for not disclosing information to shareholders, his silence this time has been deafening

From Infosys' relationship with its clients after whistleblower allegations to IBC resolutions exceeding time limit, here are the top 10 business headlines for Tuesday

The letter was made public last Monday, after which Infosys' stock price was badly hit, though it has recovered a bit in the last trading session

Employees are mostly worried about what impact this could have on their incentive structures or promotions

Queries sent to the SEC with regard to cooperation sought from Sebi remain unanswered

In April this year, the board of Infosys adopted a new stock plan called "Expanded Stock Ownership Programme"

Infosys said it complied with its whistle-blower policy through placing the complaint before the audit committee of its board