Now, US SEC launches probe into whistleblower charges against Infosys

Infosys Ltd on Thursday said the U.S. Securities and Exchange Commission (SEC) has launched a probe into whistleblower claims that the Indian software services firm used ‘unethical practices’ to boost revenue and profit.

The company said India’s market regulator, the Securities and Exchange Board of India (SEBI), has also asked it to submit information concerning the complaints.

Infosys, India’s second-biggest IT services firm by revenue after Tata Consultancy Services Ltd , on Tuesday said it was investigating claims including that Chief Executive Officer Salil Parekh bypassed reviews and approvals for large deals fearing the negative impact of reduced profit on Infosys’ share price.

It also disclosed claims that Chief Financial Officer Nilanjan Roy prevented employees from highlighting issues around large deals in presentations to the board.