L&T denies involvement in graft scandal

Indian construction major Larsen & Toubro on Tuesday denied any kind of involvement in the graft scandal that has hit the US IT major Cognizant.

“We wish to clarify that Cognizant Technology Solutions (CTS) had reached a settlement with the US Department of Justice and the US Securities and Exchange Commission in which it has acknowledged violations of the US Foreign Corrupt Practices Act (FCPA) in connection with the company’s construction projects in India. This settlement appears to arise from an internal investigation by CTS that it first announced on September 30, 2016.