Infosys CEO Salil Parekh laid to rest questions about Panaya and Skava, the businesses that Infosys had acquired under the regime of former CEO Vishal Sikka, which also went on to be the latter’s undoing.

At the company’s annual general meeting on Saturday, Parekh said both the assets were not for sale and that the company had appointed senior members of the leadership team to each of the businesses. They will look at re-purposing Panaya and Skava businesses in consumer product, retail and manufacturing.

During the FY19 Q4 results announcement, Parekh had said that the company had not found any buyers for Panaya and Skava.

Several Infosys shareholders asked for updates on Panaya and Skava during the AGM, with some also demanding why the investigation report, as pushed for by founder Narayanan Murthy, was not shared with shareholders.

Chairman Nandan Nilekani said the investigation report on Panaya was confidential and that the board was satisfied with the decision to keep it that way, citing that several people had spoken on the condition that the report be kept confidential.

Shareholders also raised concerns over the falling operating margins at Infosys, with the company having lowered guidance for FY 20 to 21-23 percent from 22-24 percent in FY19. The company ended FY19 with an operating margin of 22.8 percent.

"We will drive operating margins at high levels," Parekh told the media on the sidelines.

"There were certain investments in the previous fiscal year which will be completed in Q1 of FY20. After that there will be no new investments and company will work on operating perfomance to drive improvements," he said.

Infosys management has reiterated that the company is continuing to make investments in localisation and onsite hiring.