THE SORE POINTS

Some of the al­le­ga­tions mud­dy­ing the wa­ters at In­fosys

India Today - - SPECIAL REPORT -

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

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