Infosys seeks settlement with regulator on ex-CFO's severance pay | Reuters

MUMBAI (Reuters) - Infosys has sought a settlement with India’s market regulator over a disputed severance package awarded to its former chief financial officer. FILE PHOTO: The logo of Infosys is pictured inside the company's headquarters in Bengaluru, India, April 13, 2017. REUTERS/Abhishek N. Chinnappa/File PhotoFounders of the Indian IT services company, led by Narayana Murthy, had objected to the payout to Rajiv Bansal and the ensuing row culminated in the resignation of the then CEO Vishal Sikka and chairman R Seshasayee. Infosys said in a statement on Wednesday it had applied to the Securities and Exchange Board of India as it wanted to resolve allegations, including issues related to not seeking the prior approval of the nomination and remuneration committee and disclosures relating to the payout. The company, which appointed Salil Parekh as its new CEO on Saturday, said the process was based on an undertaking that it would “neither admit nor deny” any findings.

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Dec 06, 2017 21:56 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See