Tech giants Infosys signed a binding agreement with former board members, reported The Economic Times.

According to ET's report published on Wednesday, former board members R Seshasayee, Jeffrey Lehman and John Etchemendy were asked to sign the agreement to prevent future disclosures when they decided to quit last August.

The details about the agreement were disclosed by the company in their annual report released on Monday, the report said.

However, the agreement has taken many previous employees by surprise. “I am not aware of any such precedent of independent directors signing such an agreement in the past … usually when an employee separates from a company, both sign such an agreement and mutually agree that no party will raise any claims in future ... such a binding agreement with board members (is) unprecedented,” V Balakrishnan, a former Infosys CFO and board member was quoted saying in the report.

As the report mentioned, the board, which the signatories were part of, was one of the most controversial leadership team in Bangalore based firm's history. It had come under heavy fire from Infosys founder NR Narayana Murthy, who questioned its decisions and alleged that they were indicative of grave lapses in corporate governance. This, in turn, led to the reshuffling of the entire top brass of the company.

First Published:May 23, 2018 10:57 AM IST