SEBI, BSE ask Infosys why it didn't disclose whistleblower complaints
Infosys has launched a thorough investigation into the "unethical practices" complaints against CEO Salil Parekh and CFO Nilanjan Roy and recused them to ensure an impartial probe
- Oct 23, 2019,
- Updated Oct 23, 2019 2:23 PM IST
Sebi and BSE have sought clarification from tech giant Infosys Ltd for not disclosing information regarding the whistleblower complaint. "Infosys Ltd vide an announcement date October 22, 2019, titled "Statement", submitted Statement attributable to Nandan Nilekani, Chairman of Infosys Limited, wherein it is mentioned that Infosys Ltd had received whistle blower complaints. However, it is observed that Infosys Ltd has not made any disclosures under Regulation 30 of SEBI (LODR) Regulations, 2015, w.r.t. receipt of Whistle blower complaint mentioned in the announcement," the Securities and Exchange Board of India as well as BSE said in a statement, adding that the reply from Infosys is awaited.
Infosys on Tuesday said they were investigating the "unethical practices" complaint against Chief Executive Officer Salil Parekh and Chief Financial Officer Nilanjan Roy. Both have been recused to ensure an impartial probe. Infosys said both the complaints made by the group called 'Ethical Employees' had been placed before the Infosys audit committee and its non-executive members. The company placed "both complaints before the audit committee on October 10, 2019, and before the non-executive members of the Board on October 11, 2019."
Infosys Chairman Nilekani recuses CEO Parekh, CFO Roy from investigation of allegations
Sebi and BSE have sought clarification from tech giant Infosys Ltd for not disclosing information regarding the whistleblower complaint. "Infosys Ltd vide an announcement date October 22, 2019, titled "Statement", submitted Statement attributable to Nandan Nilekani, Chairman of Infosys Limited, wherein it is mentioned that Infosys Ltd had received whistle blower complaints. However, it is observed that Infosys Ltd has not made any disclosures under Regulation 30 of SEBI (LODR) Regulations, 2015, w.r.t. receipt of Whistle blower complaint mentioned in the announcement," the Securities and Exchange Board of India as well as BSE said in a statement, adding that the reply from Infosys is awaited.
Infosys on Tuesday said they were investigating the "unethical practices" complaint against Chief Executive Officer Salil Parekh and Chief Financial Officer Nilanjan Roy. Both have been recused to ensure an impartial probe. Infosys said both the complaints made by the group called 'Ethical Employees' had been placed before the Infosys audit committee and its non-executive members. The company placed "both complaints before the audit committee on October 10, 2019, and before the non-executive members of the Board on October 11, 2019."
Infosys Chairman Nilekani recuses CEO Parekh, CFO Roy from investigation of allegations