Infosys engaging with investors to maintain high governance norms
What's the story
According to its BSE filing, Infosys is currently engaging with its shareholders to discuss what its future course of action should be so that, the "high governance standards" of the firm are maintained. It's to be noted that Infosys founder NR Narayana Murthy had earlier cited corporate governance, as something, which the firm lacked the most under Sikka's leadership. Here's more.
Murthy
Things are falling into place
The dust has not yet settled on Sikka's exit and every day, new statements, allegations are doing the rounds. Murthy, who has been quite vocal about how things were being run earlier, is probably at ease now, with Nilekani taking over. Apart from the to and fro between him and R Seshasayee, everything is going back to how it was in the old days.
Move
Murthy got what he wanted
Murthy recently stated that he's "happy that Nilekani has taken over as chairman of Infosys. Nilekani will bring back glory to Infosys." Infosys is making sure that its new chapter includes old timers and they take part in the decision-making. That way, the accusations of lapses and foul play won't surface anymore. This was something that Murthy wanted but the earlier management denied him.
BSE filing
There's a snag
Murthy, with the information from his infamous whistleblower, had insisted that "hush-money" has been paid to ex-CFO Rajiv Bansal, there were irregularities in Panaya acquisition and, last but not the least, Seshasayee had lied to the shareholders. However, answers to these allegations will have to wait, as the filing says, "no material unpublished price sensitive information or financial updates will be provided."