Board of Infosys approves business transfer transaction with Brilliant Basic group

At meeting held on 14 July 2021

The Board of Infosys at its meeting held on 14 July 2021 has approved the integration of the business of Brilliant Basics group comprising Brilliant Basics holding and its subsidiary Brilliant Basics with Infosys.

The business integration will be made through business transfer agreement with Brilliant Basics to transfer its business including all assets and liabilities to Infosys.

The transaction is between a holding company and a subsidiary and therefore is accounted for at carrying values and does not have any impact on the consolidated financial statement. Post business transfer, the two legal entities Brilliant Basics Holding and Brilliant Basics will be liquidated under the applicable laws.

 

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