No plans to make external investigator's report public:Infosys
4 Aug 2017 5:44 PM GMT
Infosys Ltd has declined a request from its most high-profile founder N R Narayana Murthy to make public the report of an external consultant appointed to look into the charges of misgovernance.
Murthy, who was chairman of the company till 2014 and still holds 3.44 per cent stake (along with family members), had asked the full report by Gibson Dunn & Crutcher to be made public.
Infosys had claimed in June that the external expert had cleared the management of charges of wrongdoing, as was alleged by an anonymous complaint, after a detailed and extensive investigation.
"The company does not plan to make the report public," Infosys said in a statement. The law firm had been mandated to probe the whistleblower allegations of CEO Vishal Sikka being paid excessive compensation in relation to the Panaya acquisition. "The summary finding statement of this investigation is also available on our website," Infosys said.
The company explained that the investigation involved interviews of over 50 witnesses in India, the US and elsewhere, the review of company policies, Board minutes, public filings and internal documents.
It also entailed investigation of "many thousands of internal emails and attachments" and used forensic accounting experts to analyse technical and financial information, the company said. Infosys had ordered the probe following two anonymous letters in February that alleged wrongdoing in some of Infosys' acquisitions, improper contracting and CEO compensation as well as expenditures.
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