From the sidelines of the World Economic Forum India Summit in New Delhi, CNBC-TV18 spoke to numerous industry veterans.
Infosys Co-Founder Nr Narayana Murthy has launched a scathing attack at the previous board of Infosys. In his first interaction with investors after several members of Infosys board resigned and Nandan Nilekani took over as the Non-Executive Chairman of the firm. Murthy said, "My main concern is the poor governance practised by the previous board. This point has been missed in the entire commentary of this episode."
Mergers and acquisitions (M&A) has been quiet this week with the last leg of earnings wrapping up but what took centre-stage was yet another boardroom battle, last year it was Tatas and this time it is Infosys and Vishal Sikka resigns. However, on the deal street, initial public offering (IPO) book catches the attention with several filings this week.
The battle between the Infosys board and the founders that exacerbated post the resignation of Vishal Sikka last Friday continues to remain the top focus. CNBC-TV18 learns from sources that Nandan Nilekani may be brought back to head Infosys at least for now. Watch accompanying video of Former CFO of Infosys V Balakrishnan, in which he shared his views and readings on the same.
Centrum Broking is holding a symposium on the ministry of steel's recently announced National Steel Policy. In an interview to CNBC-TV18, Jaspal Bindra, Executive Chairman of the Centrum Group spoke at length about what is lined up at the conference.
Last four days have been turbulent for technology giant Infosys. The firm's MD and CEO Vishal Sikka quit on Friday, which was followed by a war of words between the company's board and its founder, NRN Murthy. Then came the announcement of a Rs 13,000 crore buyback and that announcement coincided with the news that some US based law firms are investigating alleged violation of US laws by either Infosys or its officials.
In an interview to CNBC-TV18, Management Guru Vijay Govindarajan shared his takeaways on the boardroom battle at Infosys and gave some insights into what the future may hold.
Some US based law firms have also announced that they are mulling initiating class action law suits against Infosys for unlawful businesses and practices. Infosys is a listed firm in the US and therefore, these law firms plan to investigate claims on behalf of local investors. In an interview to CNBC-TV18, V Balakrishnan, Former CFO, Infosys and Abhishek Manu Singhvi, Senior Advocate shared their views and readings about the same.
In an interview to CNBC-TV18, Vineet Nayyar, VC of Tech Mahindra spoke about the latest happenings and how the rest of FY18 will pan out.
Infosys today offered to buyback equity shares not exceeding Rs 13,000 crore at a price of Rs 1,150 per share.
Vishal Sikka resigns as Infosys MD & CEO; he will take on the role of Executive Vice Chairman.
Under the shadow of the year long promoter-management conflict, Vishal Sikka resigns as the Infosys top boss.
Vishal Sikka resigns as Infosys MD & CEO with immediate effect; he will take on the role of Executive Vice Chairman.
CNBC-TV18 is the only TV channel to get access to the newly set-up centre of Wipro in Silicon Valley and Shereen Bhan caught up with CEO Abidali Neemuchwala at this new facility and asked him about the company's plans for alliances and investment strategies in the Silicon Valley.
Vishal Sikka was appointed in chief executive officer and managing director in April 2014 to head the Bengaluru-based IT software giant.
'My biggest regret is not listening to my co-founders and leaving Infosys when I did in 2014'. That's the word coming in from Infosys Founder, NR Narayana Murthy. In A candid chat with CNBC-TV18's Kritika Saxena, the father of Indian IT while admitting his regret at leaving Infosys, says the company did a good job with goods and services tax (GST) implementation.
Bodhtree Consulting sees a smart move in trade today, up almost 10 percent. The company has tied up with IT major Infosys to provide GST solutions to clients.
NR Narayana Murthy, the father of Indian IT industry and founder of Infosys, has a prescription for the industry in these tough times.
The Chairman will continue to lead and I will accompany him, said the new co-chairman of Infosys, Ravi Venkatesan.
Biocon Chief Kiran Mazumdar Shaw says India is not an outsourced services country anymore, it is an innovation and knowledge partner.
Speaking to CNBC-TV18, TV Mohandas Pai, the former Chief Financial Officer of Infosys, said new-age startups have no clear strategy and very poor execution.
Speaking to CNBC-TV18, UB Pravin Rao, Chief Operating Officer at Infosys, said all options were being explored and that the company's board would decide on the timeline of the buyback and the cap allocation policy.
India's largest software company confirmed this morning that it would consider doing a buyback on February 20.
Speaking to CNBC-TV18, Girish Pai, Head of Research at Nirmal Bang Institutional Equities, said it was clear that there is still friction between the Infosys board and the company's founders.