Ex-Infosys Board must shell out Bansal severance pay: Whistleblower to Sebi

Infosys lost the arbitration battle against Bansal over his severance package and has been directed to pay the pending amount of Rs 121.70 million with interest to their former CFO

Infosys should pay its former chief financial officer Rajiv Bansal his severance amount by clawing back the remuneration the company paid to the members of the Infosys board led by former chairman R Seshasayee, an anonymous whistleblower has written to market regulator Sebi, according to a report in Economic Times.

According to the report, the whistleblower demanded that the Securities and Exchange Board of India (Sebi) steps in to protect the interests of Infosys’ minority shareholders.

“Why (should) shareholders’ money be used for the stupidity of earlier board members?" the whistleblower wrote in the letter.

The whistleblower's missive comes after