The Bengaluru-headquartered firm said that it complied with its whistleblower policy through placing the complaint before the audit committee of its board
On Monday, Infosys informed stock exchanges about anonymous whistleblower complaints alleging certain unethical practices
The company said India's market regulator, the Securities and Exchange Board of India (SEBI), has also asked it to submit information concerning the complaints
The matter could get further complicated for Infosys as the company is also listed on the Nasdaq Stock Exchange in the US
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Credibility of the Indian IT sector is at stake
Former CFO and deputy CFO could be approached to assist in the probe
The Infosys stock is widely held by mutual funds, with more than 400 actively- and passively-managed schemes exposed to the company
Sources said the regulator has already asked the stock exchanges to collate trading data of Infosys' shares as well as about derivative positions
Leading exchange BSE on Wednesday asked Infosys to explain why it did not make a disclosure about a whistleblower complaint
Against the backdrop of Nilekani's statement on Tuesday and the company's filing to the bourses a day before, the BSE has sought clarification
For the second time in about as many years, the Indian icon synonymous with the country's technological ascendancy is being forced to answer accusations of impropriety
Investors lost a staggering Rs 53,000 crore when the stock tanked 16 per cent on Tuesday
According to news reports, markets regulator Securities and Exchange Board of India (Sebi) could seek clarification from the IT major on charges level levelled by the whistle-blower.
On Monday, NYSE-listed Infosys had said it had received whistleblower complaints alleging "unethical practices" by its top executives to boost short-term revenue and profit
EY, Shardul Amarchand to conduct probe; CEO, CFO recuse themselves
"As Infosys is a Nifty stock, the company is widely held in several equity schemes," said a fund manager. According to industry estimates, the stock is held in over 400 MF schemes
This is the sharpest decline for the software exporter since April 2013, shows data compiled by Bloomberg
Further, revenue and cost recognition have not adhered to accounting norms and have been done to improve short-term profitability
P Chidambaram gets bit of court relief and Prime Minister Narendra Modi and Abhijit Banerjee have an "excellent meeting".