THE SORE POINTS

Some of the allegations muddying the waters at Infosys

CEO’S HIGH SALARY Charge

Exorbitant salary drawn by CEO Vishal Sikka. Sikka gets $11 million, or around Rs 74 crore, annually. It was $7 million at the time of revision last year. Former chairman N.R. Narayana Murthy says this is 2,000 times the entry-level salary at Infosys

Defence

Infosys says Sikka’s salary matches global standards. When it was increased, the fixed component came down from $5.8 million to $4 million, the variable went up. A global consultant had evaluated the CEO’s salary and it was benchmarked with his peers before the board took a decision

SPLURGING BY TOP EXECS Charge

Vishal Sikka used private jets to attend meetings. Such expenses incurred by top executives are against the company’s ‘value system’

Defence

Infosys says it does not own jets. On certain occasions, Sikka used chartered flights, but the expense adds up to only 8 per cent of the CEO’s travel for NovemberDecember 2016. And he brought in value through the travelling he did

SEVERANCE PAYOUTS Charge

Former Infosys general counsel David Kennedy will get severance payments worth Rs 5.8 crore and other reimbursements over 12 months. In 2015, CFO Rajiv Bansal got a severance package of around Rs 17.4 crore. Murthy has alleged payout of ‘hush money’

Defence

Ínfosys says all decisions were taken bona fide, in the overall interest of the company and full disclosures were made. The actual amount paid to Bansal was just Rs 5.2 crore; the balance remains suspended. The management has assured no repeat of such episodes

MINISTER’S WIFE IN BOARD Charge

Appointment of Punita Sinha, wife of Union MoS for Civil Aviation Jayant Sinha, as an independent director in January 2016. Jayant was MoS finance at the time of the hiring. Corporate ethics issues were raised. It was argued that Punita could be privy to government decisions on financial matters

Defence

Punita Sinha is eminently qualified for the job. She has 25 years of experience, including in senior positions at MNCs such as Blackstone, says Infosys