Infosys chairman Nandan Nilekani officially responds to whistleblower controversy; shares dip 16%

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Infosys chairman Nandan Nilekani said that the complaints relating to ‘unethical’ measures followed by the management, including the CEO and CFO, were being “dealt with an objective manner.” The firm’s audit committee will be conducting an independent investigation on the allegations put forth by the anonymous group. 

As reported earlier, an anonymous group calling itself ‘ethical employees’ has complained against the management of Infosys Ltd against taking ‘unethical’ steps to increase short-term revenue and profits to the board of Infosys and Exchange Commission (SEC) and the US Securities, stating that the complainants have emails and voice recordings as evidence for their claims.

The stock dipped 16% on Tuesday, marking Infosys’ biggest single-day fall since 12th April 2013, the share price of Infosys touching down at Rs 645. The audit committee of Infosys has also hired the law firm of Shardul Amarchnad Mangaldas & Co to conduct an independent investigation. 

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A passionate writer with bachelor’s in the field of English & Journalism. Other than being a bibliophile, some of her hobbies are travelling, photography and poetry.

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