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Infosys’ top body to be dissolved on April 1

Also, the Bangalore-headquartered firm appointed nine Executive Officers, which include Executive Chairman NR Narayana Murthy, CEO and Managing Director S D Shibulal, Vice Chairman S Gopalakrishnan and CFO Rajiv Bansal.

In a regulatory filing to the US Securities and Exchange Commission (SEC), Infosys said, ‘As reported previously by the Company, Executive Council of the company will be dissolved effective 1 April, 2014. Pursuant to this, effective 1 April, 2014, the company will have nine executive officers.’ In January this year, India's second largest software services exporter had announced the move to dissolve its top decision-making body with effect from April 1.

The other Infosys officials who have been appointed as executive officers are Board Member Srinath Batni, newly appointed Presidents Pravin Rao and B G Srinivas, Chief Risk Officer and Company Secretary Parvatheesam K and Group Head (Human Resource Development) Srikantan Moorthy, it added.

The appointment of executive officers has been made in line with SEC regulations. Infosys shares on Friday rose by 0.96 per cent to settle at Rs 3259.55 apiece on the BSE.

Airtel, Safaricom get Kenyan nod to buy Essar Telecom’s yuMobile

New Delhi:
Kenya’s telecom regulator has conditionally allowed the nation’s leading operator Safaricom and a unit of India’s Bharti Airtel to acquire the assets of Essar Telecom Kenya, which operates under the brand yuMobile.

The applications by Safaricom and Airtel to acquire the assets of yuMobile have been approved subject to the three parties meeting conditions attached to the approval, the Communications Commission of Kenya (CCK) said in a statement.

‘Among the conditions are that all firms involved be current in payment of the outstanding regulatory fees,’ according to the statement. The buyers should ensure that all Yu subscribers retain their numbers and related contracts in the transition period and that Airtel submits the proposed service level agreement for subscribers acquired from Essar Telecom, it said.

The Communications Commission of Kenya  has provided a transition period of six months to allow for seamless transfer of services from Essar Telecom Ltd to the two buyers. ‘The compliance of the conditions will determine the final consent of the sale,’ it said.
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