Nandan Nilekani brings God’s witness to Infosys corporate governance; hits hard at whistleblowers

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November 6, 2019 1:46 PM

Infosys’ Chairman Nandan Nilekani on Wednesday said that the speculations made by the unidentified sources against co-founders and former colleagues, hinting an involvement in whistleblower complaint, are aimed at tarnishing the image of these people.

Nandan Nilekani, digital payment system, digital payment systems, UIDAI, BIS, WhatsApp usersOn whistleblower complaints related to accounting irregularities, Nandan Nilekani said that even God cannot change the numbers of the company.

Hitting back at the allegations, Infosys’ Chairman Nandan Nilekani on Wednesday said that the speculations made by the unidentified sources against co-founders and former colleagues, hinting an involvement in whistleblower complaint, are aimed at tarnishing the image of these people. The whistleblower complaints are taken very seriously at Infosys and the audit committee has brought an external team to investigate the matter, Nandan Nilekani said while addressing analysts in a conference call. On whistleblower complaints related to accounting irregularities, Nandan Nilekani said that even God cannot change the numbers of the company.

The company became aware of the complaint on September 30 and it was placed before the audit committee on October 10, Nandan Nilekani said. The company is under no obligation to put out every investigative report and a summary of the investigation on its completion will be provided, he added. He said he felt “insulted with the (whistleblowers) accusations.” But said he does not want to bias the investigation. “Prematurely disclosing complaints without due diligence contradicts corp governance. Will not comment on the merits of the allegation at this time,” said he. Adding, he said that the company will take the required measures if the probe validates the complaint.

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In September, a group of Infosys employees with the name of ‘ethical employees’ wrote to the company’s board and the US Securities and Exchanges Commission (SEC) on the accounting irregularities.

Stock surges

Infosys’ clarification on whistleblower allegations in the analyst call has helped stock gain more than 3 per cent from the previous close. The shares were trading at Rs 712.70, up16.60 points, or 2.38 per cent on NSE at the time of reporting.

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