Investigators found no evidence against whistleblowers: Infosys

New delhi date. November 4, 2019, Monday

The IT company Infosys made it clear in the context of corruption allegations against top management that investigators have not yet found any evidence against the company's top management. Shares saw a significant jump of six per cent after the company clarified.

Against Infosys' top management, the same employees of the company complained to the company's directors by writing an anonymous letter. The letter was also sent to the American Wheels Blowers group. Whistleblowers' letter alleges CEO Salil Parekh and chief financial officer Nilanjan Roy were accused of unethical behavior.

The company started its investigation after receiving an anonymous letter. The top management was accused of causing havoc to boost the company's revenue and profit.

The Regulatory Security and Exchange Commission is also investigating the American stock market. Because the company is also listed on the New York Stock Exchange. Sebi has also launched an inquiry into the matter. A local law firm was also investigating it.

Various investigations revealed that the company did not find any evidence that the whistleblowers made the allegations. Investigation revealed that there was no such disturbance. The company announced this on the National Stock Exchange.

The company said the report of the entire investigation will be released after the completion of the investigation, but no such disturbance has been reported so far. Shares of the company rose 6.47 percent after the announcement.

It is worth mentioning that on September 17, the employees of the company wrote an anonymous letter and made serious allegations against the CEO and the chief financial officer of the company.

At that time, the company's shares fell 16 percent. At that time, the stock was down 15.94% and the share price was Rs 643. After the company's clarification, the company's stock rose 6.47 percent to Rs 710.