Infosys: Sebi to look afresh into corporate governance issues as complaints pile up

New Delhi: Sebi’s watchdog responds to complaints about alleged shortcomings in Infosys corporate governance amid a crisis of high-level leadership and public fears among the founders and managers of the IT company.

Key regulatory sources said Sebi has received several statements about the ongoing crisis, including allegations and allegations from various parties.

Some of these complaints are even arrived before Infosys has announced the resignation of the first non-founding CEO Vishal Sikka on August 18.

Previously, the regulator had examined the alleged period of corporate governance with an information brief, presumably in Panaya case and executive compensation.

However, no concrete evidence has yet been presented on these issues.

On Tuesday, Sebi’s chairman Ajay Tyagi said the regulator was firmly watching the price movements of Infosys shares.

“We are monitoring Infosys stock prices,” he said.

In addition, the government is closely monitoring the evolution of major software programs.

Infosys co-chair Ravi Venkatesan met with Interior Minister Arun Jaitley on Wednesday.

While many institutional investors and voting advisers have suggested to bring co-founder and former CEO of Nandan Nilekani, there is also a full review of the existing Infosys board, sources said.

Little by little, as the crisis continues at Infosys following the publication of Sikka, the company’s shares fell 15 percent during the first two talks, which eroded the wealth of its 34 billion rupee market.

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