Infosys CEO Salil Parikh and CFO Neelanjan Roy have been badly mauled by Allegations of misconduct. An anonymous group of employees has made several serious allegations. The group has said that in order to show more profit of the company, they have manipulated investment policy and accounting and kept the auditor in the dark. The group says that it also has e-mail and voice recording in evidence of its allegations.
The unnamed Infosys group, named ‘Ethical Employees’, has written an explosive letter to the Infosys board as well as the US Securities and Exchange Commission alleging that the company resorted to ‘unethical’ conduct in order to earn higher profits and revenue. is. This letter was written on 22 September itself.
In their complaint sent to Infosys Board by writing a letter, the group of employees has said that they have attached copies of the evidence with the mail and they want an immediate investigation into the matter. According to the letter, “Voice recordings and e-mails reveal how the CEO and CFO ignored the auditor and did this and threatened to change the auditor.”
Know Allegations here…
It has been alleged in the letter that Infosys CEO Salil Parekh ignored the review report of big deals and hid the information received from the auditor and company board. The letter states that ‘Salil Parekh asked him to present miscalculations to show the margin and he prevented us from presenting the board on the issue of big deals’.
Infosys CFO Neelanjan Roy has also been accused of making changes in ‘investment policy and accounting’ without taking necessary approvals from the board and auditors so that Infosys’ profits are seen in the short term.
Manipulating the Revenue Figures
The letter alleged that this group of employees was not being allowed to take charge, as it could have ‘impacted the company’s profits and share price’. The letter states that he has given evidence about irregularities in the revenue figures achieved in ‘Verizon, ABN, Intel and Japan JV deals. There is also a voice recording of CFO Nilanjan Roy, in which he is saying that such information should not be shared with the company’s auditors and board.
On what the company said about these serious allegations, Infosys has issued a statement saying, ‘Whistleblower’s complaint has been placed before the audit committee as per the company’s tradition and action will be taken as per the company’s whistleblower policy. ‘