Another whistleblower takes on Infosys over governance issue, company terms it ‘false, malicious’

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In an anonymous complaint received by Securities and Exchange Board of India (Sebi) and the US Securities Exchange Commission (SEC), a person has accused Infosys board of not addressing "serious corporate governance issues and conflict of interest issues related to Infosys CEO Vishal Sikka.
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In the email, the complainant, who claims to be an employee, said he or she is willing to talk to regulators and reveal all information.

"But, I want to be protected as a whistleblower," the complainant said in the email.

On the other hand, Infosys denied the allegations calling them "false, malicious and defamatory."

"Infosys takes any whistleblower complaint seriously and there is due process to investigate any complaint that comes to us. If we do receive any query either directly or from the regulatory authorities, we will respond to it as per the due process," the company said in a statement.

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Earlier, it was reported that former chief financial officer (CFO) Rajiv Bansal was unhappy about the buyout in the period prior to his exit and Sebi will seek a response from Infosys on several issues raised on the payout to the Bansal and the acquisition of Panaya.

"We will examine the response from the company on the letter Sebi has received and see if there is any violation of securities laws. We are closely monitoring the developments," a senior SEBI official had told ET.

Infosys denied any wrongdoing in the Panaya acquisition. "With regard to Panaya's acquisition, a third-party valuation was done by Deutsche Bank, and the price at which the company was acquired was within the band recommended by them," Infosys said in its statement.