City
Epaper

Under no obligation to disclose whistleblower letter: Infosys

By IANS | Updated: November 4, 2019 14:20 IST

Infosys on Monday denied all allegations made against its two top officials in a whistleblower letter and said it was under no obligation to disclose the same, post which the company scrip jumped 3.6 per cent on the BSE.

Open in App

"There is no supporting evidence that has been received by the company along with these anonymous complaints to substantiate the allegations," Infosys said in a regulatory filing dated November 2.

The company argued that unless an event or information is deemed 'material' or determined as 'material' by the company under the Listing Obligations and Disclosure Requirements (LODR) Regulations, it had no obligation to disclose the same under Regulation 30 of the LODR Regulations.

"The Anonymous Complaints do not fall within the purview of deemed material events under the LODR Regulations," Infosys said.

"With respect to the anonymous complaints, there is no prima facie evidence that the company has received until date to corroborate any of the allegations made. In any event, the audit committee retained the services of the law firm, Shardul Amarchand Mangaldas & Co. to investigate the matter," the company said.

"Further, given the circumstances at this stage, where there is complete absence of prima facie evidence and the Anonymous Complaints are still under investigation, the Company is not in a position to determine the concreteness, credibility and materiality of the anonymous complaints. In light of the above, no disclosure under Regulation 30 of the LODR Regulations is required to be made.

"As requested, we will update the stock exchanges on the basis of key findings of the investigation reports once these are concluded," the company said in its clarification statement.

( With inputs from IANS )

Open in App

Related Stories

BusinessIndian startups raise $102.93 million in funding over the week

National'Felt the divine energy', U'khand CM Dhami performs first Mahabhishek at Badrinath Dham

National50,000 candidates to appear for NEET (UG) 2025 in J&K today

NationalDGP dispute escalates in Jharkhand as Centre calls Anurag Gupta's continuation illegal

Other SportsIPL 2025: Rayudu lauds CSK's 'excellent find' Ayush Mhatre's 'power & finesse' against RCB

National Realted Stories

NationalBetting apps scam: YouTuber booked for allegations against Telangana DGP

NationalTwo held in Amritsar for leaking sensitive information on Army, Air Force

NationalPadma Shri awardee Baba Shivanand passes away at 128, PM Modi pays tribute

NationalThree killed as dilapidated hospital balcony collapses in Jamshedpur

NationalContinuous polls major obstacle for 'Viksit Bharat': Shivraj Singh Chouhan at run for 'One Nation, One Election' in Noida