Infosys Audit Panel Absolves CEO Parikh, CFO Roy
[ By Bobby Anthony ]Infosys has claimed that its audit committee found no evidence of financial impropriety or executive misconduct against Chief Executive Salil Parikh and Chief Financial Officer Nilanjan Roy.“I am pleased that after rigorous investigation, the audit committee has found no wrongdoing by the company or its executives,” Infosys Chairman Nandan Nilekani said.“The...
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Infosys has claimed that its audit committee found no evidence of financial impropriety or executive misconduct against Chief Executive Salil Parikh and Chief Financial Officer Nilanjan Roy.
“I am pleased that after rigorous investigation, the audit committee has found no wrongdoing by the company or its executives,” Infosys Chairman Nandan Nilekani said.
“The allegations are substantially without merit,” Infosys stated in a regulatory filing.
The audit committee had roped in legal counsel Shardul Amarchand Mangaldad & Company as well as PricewaterhouseCoopers to come this conclusion.
The investigation team conducted 128 interviews with 77 persons, including relevant company personnel concerned with or mentioned in the allegations, Infosys claimed.
It may be recalled that anonymous whistleblowing Infosys employees calling themselves ‘ethical employees’ had accused Parikh and Roy of financial manipulation, in addition to several other lapses.
