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V Balakrishnan, the former chief financial officer of Infosys Ltd, told PTI that investors are now focusing on B2B start-ups than B2C.
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Former Chief Financial Officer of Infosys Ltd, V Balakrishnan, said the current calendar year will be better for these companies, noting that their two biggest markets -- the US and Europe -- are doing well and giving growth opportunities.
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"People like Narayana Murthy and Premji could also be considered," he told PTI. Balakrishnan said this in response to a query on who could be the most suitable candidate in the backdrop of reports that the centre is mulling to create the post of CIO, to help integrate IT strategies and policies related to various government departments.
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Former Chief Financial Officer of Infosys, V Balakrishnan, however, appeared positive about the industry's growth prospects next year.
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Infosys on Monday had said that some of the members of the promoter and promoters group of the company have communicated their intention to participate in the proposed buyback.
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Balakrishnan, who has been one of the most vocal critics flagging alleged erosion in corporate governance standards at Infosys, also stuck to his demand that co-chair-turned- independent director Ravi Venkatesan step down from the Board.
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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.
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Balakrishnan's comments come at a time when the clamour to bring back Nilekani -- one of the most high-profile founders of the IT firm -- seems to be growing in various quarters.
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This is the second major startup investment, after Paytm, by Reliance Capital. Billionloans, led by Ex-Infosys CFO V Balakrishnan, is a technology-enabled financial services company focused on providing flexible and affordable options to individuals and small businesses that have so far found it difficult to access loans from the traditional banking system.
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Balakrishnan said digitisation of government services would bring revenues. This in the short-term would give a momentum to the IT services industry, which was presently seeing single digit growth rates compared to the 15-20 per cent rise a few years ago.
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Whenever there is a downturn, there is always noise about unions coming into play in the IT industry but it never sustained, ex-Chief Financial Officer of Infosys Ltd, V Balakrishnan told PTI.
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"The present Infosys' Board has let down its founders and lost credibility to continue. Its members should be replaced with new people," Balakrishnan said on Wednesday, two days after the company justified giving Rao a 70 per cent wage hike even after cofounder N.R. Narayana Murthy opposed it in private.
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"Chandra is the right man for the right job who brings a lot of experience, maturity and midas touch," V Balakrishnan, former Infosys CFO said.
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Prominent investors and broking firms have chosen to side with the Infosys board in the ongoing tug-of-war between the company‘s founders and the board.
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Infosys' former CFO, T V Mohandas Pai today exhorted institutional investors to raise questions about the huge cash pile on the company's books and governance issues, as investors have an obligation to protect their investment.
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Infosys co-founder NR Narayana Murthy has spoken out on 'differences' with the board. In an interview to Network18, he questioned the 30-month severance pay given to former CFO Rajiv Bansal. Hope Bansal was not paid because he had any "damaging information", he added.
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The faceoff between the Infosys board and founders is more on governance than any strategic matters says, former CFO V Balakrishnan. "The board is a big let-down in engaging with shareholders," he says in an interview to CNBC-TV18. He also clarifies it is not an issue between (Vishal) Sikka and the founders.
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After some co-founders wrote a letter to the board of IT major company seeking a review of corporate governance practices, it is emerging that they are keen to install 'value-based people' who have a deeper understanding of the company on the board.
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Reports say that institutional investors are asking IT companies to announce a liberal buyback policy. But the fact is, though such a policy is good for investors, it is not necessarily so for a company.
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After hedge fund Elliott Management asked for increased share buy backs at Cognizant, other domestic and foreign institutional investors are also demanding the same from the IT giants.
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Advisory on illegal activities by chartered accountants if any is welcome move but advisory not hearing any negative views on demonetisting by any ICAI member is a bit of an overreach, says V Balakrishnan, Former CFO, Infosys.
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Indian Bank Senior Manager V Balakrishnan had sanctioned credit facility to two people in 1991 causing Rs 13.30 lakh loss to the bank's Anna Nagar branch without making any prior verification, a CBI release said.
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Two former Infosians Mohandas Pai and V Balakrishnan have now joined hands to collaborate with StartupXseed Ventures LLP to launch a Rs 30 crore Aaruha Technology Fund.
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Dr Parthasarathi Shome identified the key areas of tax that need urgent policy attention and said tax priorities are simplifications of the company income tax, really streamlining incentives, so that the headline rate of the company income tax can be brought down.
