Infosys management accused of taking unethical steps to boost financials

Bengaluru: The management of Infosys Ltd has been accused of taking “unethical” steps to boost short-term revenue and profits, by an anonymous group calling itself “ethical employees”. The group has complained to the board of Infosys and the US Securities and Exchange Commission (SEC) stating that the complainants have emails and voice recordings to substantiate the claims. The story was first reported in The Economic Times in a report dated 21 October.

“The whistleblower complaint has been placed before the Audit Committee as per the Company’s practice and will be dealt with in accordance with the Company’s whistleblowers policy,” Infosys said in a response to a query from Mint.

In the letters sent to the Infosys board and the SEC, a copy of which Mint has seen, the group alleges that CEO Salil Parekh is bypassing reviews and approvals for large deals.