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Even God cannot change the numbers of Infosys: Nilekani on whistleblower complaints alleging unrecognised reversal of $50 million
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Even God cannot change the numbers of Infosys: Nilekani on whistleblower complaints alleging unrecognised reversal of $50 million
Nov 6, 2019 2:36 AM

Talking about the recent whistleblower complaints that alleged that attempts were made by Infosys CEO and CFO to not recognise the reversal of $50 million on FDR contracts to avoid a reduction in profits, chairman Nandan Nilekani said that "even God cannot change the numbers of this company" as "the company has very strong processes".

"I think Infosys has very strong processes, even God cannot change the numbers of this company... we have an outstanding finance team, people of the highest integrity and they are feeling insulted by these accusations," said Nilekani.

Nilekani, however, said that he was awaiting the investigation report to see what exactly comes out of the probe.

He said the company reacted responsibly with respect to the recent whistleblower complaints. He added that the firm is committed to defining and following the highest governance standards.

“Our whistleblower policy which is grounded in the values of our corporate governance practices has been in place for over 15 years. This policy is intended to help and ensure that the company maintains a workplace that adheres to the highest ethical standards," said Nilekani.

“The audit committee has expertise in this matter, served as a custodian of the whistleblower process and it promptly and appropriately investigates complaints," he added.

Nilekani further said that the speculations were appalling and seemed to be aimed at tarnishing the image of "some of the most accomplished and respected individuals".

"I have deep regards for the life-long contribution of all our co-founders. They have built this institution and have served this company selflessly and even today, remain committed to the long-term success of Infosys," he said.

The whistleblower complaints, which came to light last month, alleged that CEO Salil Parekh and CFO Nilanjan Roy were involved in unethical practices for many quarters. The complainants, a group of anonymous employees, also alleged that Parekh was bypassing reviews and approvals for large deals.

In response, Nilekani had issued a statement saying that the company's audit committee was conducting an independent investigation on the same.

Later, markets regulator Securities and Exchange Board of India (Sebi) too launched its probe into alleged non-disclosure of price-sensitive information by Infosys' management. The US Securities and Exchange Commission (SEC) has also launched an investigation into the whistleblower claims.

While a senior government official told CNBC-TV18 that the centre has asked the National Financial Reporting Authority (NFRA) to launch an enquiry into the potential financial irregularities.

Sources earlier told CNBC-TV18 that Parekh and Roy had denied the allegations of financial wrongdoing levelled against them during an October 11 board meeting.

First Published:Nov 6, 2019 11:36 AM IST

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