BENGALURU: Infosys founder N R Narayana Murthy on Tuesday said he used to be upset with core questions still unanswered, which contains how and why Infosys board approved an abnormal and extraordinary severance cost settlement of 1000 consistent with cent to former CFO Rajiv Bansal.
"I am disappointed. The core question still is how and why the Infosys board approved an unusual and unprecedented severance payment agreement of 1000 per cent (of the standard Infosys employment contracts) to the former CFO," he said in a commentary here.
The commentary used to be in response to the company commentary that the evaluate undertaken on Panaya issue had showed "appropriate" and "timely disclosures" were certainly made on severance bills to former CFO Rajiv Bansal.
"Also, why the board did not disclose this information proactively and much earlier. Sadly, it appears nobody will know the truth," he said.
Earlier within the day, the Board underneath chairman Nandan Nilekani had given a clean chit to Panaya acquisition, saying there used to be no merit within the allegations of wrongdoing.
Murthy additionally said he stands through each query on poor governance raised in his speech to Infosys buyers on August 29, 2017.
Murthy said fact remains none of those questions were responded through Infosys board with transparency it deserves.
Earlier, Murthy had demanded that full report through Gibson, Dunn and Crutcher on whistle blower allegations bearing on the USD 200 million Panaya deal, be made public.
"I am disappointed. The core question still is how and why the Infosys board approved an unusual and unprecedented severance payment agreement of 1000 per cent (of the standard Infosys employment contracts) to the former CFO," he said in a commentary here.
The commentary used to be in response to the company commentary that the evaluate undertaken on Panaya issue had showed "appropriate" and "timely disclosures" were certainly made on severance bills to former CFO Rajiv Bansal.
"Also, why the board did not disclose this information proactively and much earlier. Sadly, it appears nobody will know the truth," he said.
Earlier within the day, the Board underneath chairman Nandan Nilekani had given a clean chit to Panaya acquisition, saying there used to be no merit within the allegations of wrongdoing.
Murthy additionally said he stands through each query on poor governance raised in his speech to Infosys buyers on August 29, 2017.
Murthy said fact remains none of those questions were responded through Infosys board with transparency it deserves.
Earlier, Murthy had demanded that full report through Gibson, Dunn and Crutcher on whistle blower allegations bearing on the USD 200 million Panaya deal, be made public.
Murthy firm on Panaya, questions Infy board again
![Murthy firm on Panaya, questions Infy board again]()
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October 26, 2017
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