L&T says audit panel to seek external expert’s help on Cognizant bribery case

Larsen and Toubro (L&T) has said its audit committee will seek assistance of an external expert to look into the bribery allegations related to American IT firm Cognizant’s campus in India.

Last month, Cognizant Technology Solutions Corp (CTS) had said it would pay USD 25 million to the US Security and Exchange Commission (SEC) to settle its India bribery charges.

It was alleged in a US Security and Exchange Commission (SEC) complaint that in 2014, a senior Tamil Nadu official demanded a USD 2 million bribe from the construction firm responsible for building Cognizant’s 2.7 million sq ft campus in Chennai.