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Another row? Narayana Murthy wants Infosys to make Panaya report public

The company said it does not plan to make the report public, according to Business Standard.

August 03, 2017 / 22:54 IST
N. R. Narayana Murthy, founder and chairman of Infosys, listens to a question during an interview with Reuters at the company's office in Bangalore February 28, 2012. Picture taken on February 28, 2012. REUTERS/Vivek Prakash (REUTERS - Tags: BUSINESS SCIENCE TECHNOLOGY PROFILE HEADSHOT) - RTR30CV2
     
     
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    Infosys co-founder NR Narayana Murthy has asked the company's board to make the recent report by the global law firm, Gibson, Dunn & Crutcher, public, reported Business Standard.

    In a recent letter, Murthy has asked the board why Ritika Suri, a member of the team that was involved in the controversial buyout of Israeli firm, Panaya, resigned soon after the law firm gave a clean chit to the company.

    Murthy’s letter coincides with Chief Executive Vishal Sikka’s completion of three years at the firm.

    Also read: Case closed: SEBI to stop pursuing whistleblower's allegations against Infosys

    Suri was head of corporate development and ventures when the deal was signed in April 2015. She quit the role in June.

    Moneycontrol independently reached out to Murthy but he was not available for comment.

    Murthy has in the past raised concerns over high severance payouts to some former executives and over corporate governance issues at the company.

    Whistleblowers had written letters to the country's market regulator Securities and Exchange Board of India and the US Securities and Exchange Commission over alleged inconsistencies in the USD 200-million acquisition of Panaya.

    The Business Standard article quoting Infosys as saying that the company does not plan to make the report public.

    The article also quoted a former senior executive of Infosys saying that the recent exits of senior executives, who were involved in the Panaya deal, and the company having “no plan” to make the report public “raises more questions than answers”.

    first published: Aug 3, 2017 10:54 pm

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