‘Plaints specific; call for urgent, express action’

Our Bureau Bengaluru | Updated on October 21, 2019

InGovern, a proxy advisory firm, said that the whistleblower’s allegations against Infosys are specific in nature, and the audit committee needs to investigate and give investors the correct picture.

Shriram Subramanian, Managing Director of InGovern, said that last time, there was not much depth to the whistleblower complaint. But this time, the complaints are specific.

“No two ways about it. It calls for urgent and express action,” he told BusinessLine.

He said that if there are accounting irregularities, then the Board should take note of it. “Investors expect best practices from Infosys,” he added. Stakeholders Empowerment Services (SES), another proxy advisory firm, said that that companies are under extreme pressure to come out with better results quarter after quarter.

“In the present day with high emphasis on governance, companies must volunteer information to show their conduct. Infosys did not make any major changes in the board despite several allegations earlier,” said JN Gupta, a co-founder and Managing Director of SES.

‘Important to know truth’

“It is important to know the truth but going by the allegations made in the mail, it is quite clear that Infosys should conduct a thorough probe,” he said.

Published on October 21, 2019

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