Now, NSE and BSE seek clarification on emails over InfyPanaya deal

The National Stock Exchange and the Bombay Stock Exchange have sought clarifications from Infosys on claims made in two anonymous emails against the company’s management and board, which said it had started probing the allegations.

For now, Infosys management, led by CEO Vishal Sikka, has strongly denied any charges of impropriety and termed the charges malicious and aimed at tarnishing the image of India’s second-largest software company and its management.

“This is in response to the letters dated February 15 and February 21, 2017 from the National Stock Exchange of India and the letter dated February 21, 2017 from the BSE on the status of the whistle-blower complaints received by the company as reported in certain sections of the media. The complaints have been placed before the audit committee and as is normal practice, in accordance with the company’s whistle-blower policy, the audit committee is taking steps to initiate an investigating into the allegations made,” said a statement sent by Infosys to the stock exchange on Wednesday.

Two emails, purportedly written by an anonymous whistleblower, dated February 12 and February 19, were sent to this newspaper and copied to senior executives of the Securities and Exchange Board of India (Sebi).

Mint is not disclosing all the contents of the emails for lack of confirmation. Some claims made in the emails can be confirmed including a walkout by the then CFO Rajiv Bansal from a February 15, 2015 meeting, where board members were asked to approve a proposal to buy Israeli automation technology firm Panaya Ltd.