News

November 12, 2019

Infosys In Negotiations With Two More Law Firms In Order To Strengthen Investigation Into Whistleblower Allegations


[ By Bobby Anthony ]

Infosys

Infosys has begun negotiating with law firms JSA Law and Khaitan & Company.

It might appoint either one of them or even both of these law firms in order to strengthen the investigation into allegations by anonymous whistleblowers against Infosys CEO Salil Parekh.

However, it is still not clear about what the scope of the task of the additional law firm/s which may be roped in would be.

The move to rope in additional law firms would be in addition to an existing law firm Shardul Amarchand Mangaldas, which is already leading an investigation into allegations by whistleblowers.

It may be recalled that a section of the media had reported that Infosys has appointed audit firm PwC to assist with the ongoing investigation.

The whistleblowers have made a series of allegations against Infosys Chief Executive Officer Salil Parekh and Chief Financial Officer Nilanjan Roy. They have presented evidence to the United States Securities and Exchange Commission in the form of recordings as well as emails.

As per their allegations, Parekh and Roy, allegedly window dressed accounts, asked for visa costs to not be recognized and insisted that key information be concealed from the board and auditors.

There are also allegations that billions of US dollars in deals were signed with zero margins and that Parekh referred to two of the company's independent directors as ‘madrasis’ and one as a ‘diva.’



Related Post

latest News

  • New rules for several financial transactions to kick in from July 1

    Several changes will kick in for financial transactions from July 1, which will directly impact consumers at all levels. These changes include PF rule...

    Read More
  • NCLAT Directs National Company Law Tribunal To Pass Order On Insolvency Against Videocon Group Companies In 3 Weeks

    The National Company Law Appellate Tribunal (NCLAT) has directed the National Company Law Tribunal (NCLT) Mumbai to pass an order on the insolvency pl...

    Read More
  • Mumbai Bench Of NCLT Initiates Corporate Insolvency Resolution Process Against D S Kulkarni Developers Limited

    The Mumbai bench of the National Company Law Tribunal (NCLT) has initiated a corporate insolvency resolution process against D S Kulkarni Developers L...

    Read More