Cognizant to pay USD 25 mn to settle India bribery charges

Washington: Major American IT player Cognizant will pay USD 25 million to the US Security and Exchange Commission to settle its India bribery charges, as Department of Justice filed criminal cases against two if its former top executives.

The two former executives have been charged for their roles in facilitating the payment of millions of dollars in bribe to an Indian government official, the Security and Exchange Commission (SEC) said.