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.

Reuters December 06, 2017 21:56:33 IST
Infosys seeks settlement with regulator on ex-CFO's severance pay | Reuters

Infosys seeks settlement with regulator on exCFOs severance pay  ReutersMUMBAI (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:

TAGS:

also read

Pulitzer Prize-winning photojournalist Danish Siddiqui killed in Afghanistan: Politicans, journalists pay tributes
India

Pulitzer Prize-winning photojournalist Danish Siddiqui killed in Afghanistan: Politicans, journalists pay tributes

The Pulitzer prize winner, who was in Kandahar covering operations against Taliban, was killed when he was riding along with the Afghan Special Forces

Indian photojournalist Danish Siddiqui killed during assignment in Afghanistan's Kandahar province
India

Indian photojournalist Danish Siddiqui killed during assignment in Afghanistan's Kandahar province

Siddiqui had also covered the 2020 Delhi riots, COVID-19 pandemic, Nepal earthquake in 2015 and the protests in Hong Kong

Danish Siddiqui's passing is a reminder of the high price one pays for showing the truth
India

Danish Siddiqui's passing is a reminder of the high price one pays for showing the truth

Danish's photographs were not just documentation, but the work of someone who went down to eye-level, as they say in photographic parlance.