Whistleblower case: Infosys audit panel found no ‘financial impropriety’

Information technology services major Infosys on Friday said its audit committee found “no evidence of financial impropriety or executive misconduct” at the firm as alleged by whistle-blower letters last year. The investigation was carried out with the help of external agencies.

The Bengaluru-headquartered firm, in a seven-page release, rejected each of the allegations made in the anonymous whistle-blower complaints disclosed on October 21. This came on a day when the company announced its financial earnings for the third quarter of 2019-20.

The company said the audit committee, headed by Independent Director D Sundaram and assisted by independent legal counsel Shardul Amarchand Mangaldas & Co and PricewaterhouseCoopers, found that the “allegations are substantially without merit”.