Infosys CEO Referred To Colleagues As Madrasis, Claim Whistleblowers


The turbulence in global software vendor Infosys over complaints of alleged unethical practices only looks set to get rougher, with unnamed employees accusing a top company official of mocking two independent directors with a derogatory reference to their place of origin, news agency IANS has reported.

Infosys Chief Executive Officer Salil Parekh allegedly referred to independent directors D Sundaram and DN Prahlad as “Madrasis”, a slur commonly used in North India to mock those from the South, IANS quoted unnamed employees as saying in a joint letter to the company board on September 20.

He is also accused of referring to Biocon chairperson Kiran Mazumdar-Shaw, a lead independent director on the 10-member Infosys board, as a “diva”.

“The CEO told us, ‘No one on the board understands these things, they are happy as long as the share price is up. Those two Madrasis (Sundaram and Prahlad) and diva (Kiran Mazumdar-Shaw) make silly points, you just nod and ignore them’,” the two whistleblowers recalled in the letter.

The slur finds its origin in an over 300-year period when the Madras Province, an administrative subdivision of British India, used to include most of southern India – including Tamil Nadu, Andhra Pradesh and parts of Odisha, Kerala, Karnataka and the Lakshadweep islands. Today, its use as a blanket term for anybody hailing from southern India is widely frowned upon.

Earlier today, US-listed shares of Infosys Limited fell nearly 16% in premarket trading today after the software giant said that it has received whistleblower complaints alleging “unethical practices” by Salil Parekh as well as Chief Financial Officer Nilanjan Roy. “Parekh and Roy have been resorting to unethical practices for many quarters, as evident from the e-mails and voice recordings of their conversations,” IANS quoted unnamed employees as saying in a two-page letter.

“In the last quarter (July-September), we were asked not to fully recognise costs like visa costs to improve profits. We have voice recordings of these conversations,” IANS quoted the employees as saying in the letter. They also claimed that in the quarter under review of fiscal 2020, the management put immense pressure on them to not recognise reversals of $50 million upfront payment in the Fixed Depository Receipts contract because such a move would slash profits for the quarter and negatively affect the company’s stock price.

The letter claimed that critical information was hidden from auditors as well as the board.

Infosys – in its response – said that the complaint has been placed before the audit committee, and will be dealt with “in accordance with the company’s whistleblowers policy”.

(With inputs from IANS)

Follow NDTV for latest election news and live coverage of assembly elections 2019 in Maharashtra and Haryana.
Subscribe to our YouTube channel, like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.

Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: