Panaya deal: Infosys board urgently needs to provide answers

The moment of truth is here

Infosys’ decision to probe the charges made by a whistleblower regarding the acquisition of Israeli technology company Panaya is welcome. In fact, doubts over governance ethics in Infosys have reached a point where stakeholders need the company’s board to provide convincing explanations on the controversies raised by the company’s founders a couple of weeks ago. The whistle-blower’s letter, sent over the weekend to the Securities and Exchange Board of India and selected newspapers, suggests that there is more to the acquisition of Panaya and Chief Financial Officer Rajiv Bansal's departure than meets even the uninterested eye. The founders, led by