Infosys will pay California USD 800,000 (nearly Rs 56 crore) to resolve allegations that between 2006 and 2017, approximately 500 Infosys employees were working in the State on Infosys-sponsored B-1 visas rather than H-1B visas, California Attorney General Xavier Becerra said.
Infosys on Friday said it is not aware of any additional complaints made against the company other than the one it had disclosed to the bourses in October this year.
Sikka, 52, is among the world's leading experts in Artificial Intelligence (AI), Machine Learning and would be helping Oracle in the business value and adapt to change, the company said in a statement.
IT major Infosys on Monday said it has hired over 500 American workers in Indiana since March 2018.
Another whistleblower from global software major Infosys accused its Chief Executive Officer (CEO) Salil Parekh of committing misdeeds and urged the Chairman and the board of directors to act against him on his volatile complaints.
The Infosys Prize is awarded annually for outstanding achievements of researchers and scientists across six categories -- Engineering and Computer Sciences, Humanities, Life Sciences, Mathematical Sciences, Physical Sciences and Social Sciences. The winner is awarded a gold medal, a citation and cash prize of $100,000.
Nilkani emphasised that contrary to reports, the company had acted responsibly in response to the complaints. In October, Infosys had informed the stock exchanges of having received anonymous whistleblowers' complaints alleging certain unethical practices by the top management.
Infosys Chairman Nandan Nilekani today condemned "the mischievous insinuations made by anonymous sources against the co-founders and former colleagues, suggesting their involvement in the recent whistleblower allegations."
The Indian IT services company, Infosys will be firing as many as 10,000 employees in mid-senior level positions in a move to cut costs to deal with the double whammy of low margins and slow growth, IT and restructure their organisations. Infosys is laying off people in mid-senior level positions. Amid an economic slowdown in the country, this will impact Infosys workforce across all levels in the programming and engineering divisions.
Shares of Infosys on Monday gained over 3 per cent after the company said it is yet to receive any evidence to corroborate complaints by anonymous whistleblowers that alleged unethical practices by the company's top management.
"The Company has been in touch with the Securities and Exchange Commission regarding the anonymous whistleblower complaints and has learnt that the SEC has initiated an investigation into this matter," said Infosys in the statement.
BSE on Wednesday asked Infosys to explain why it did not make a disclosure about a whistleblower complaint which alleged that the company's top executives were following "unethical practices" to shore up profits through irregular accounting ways.
Shares of Infosys on Tuesday plummeted nearly 17 per cent marking their worst intraday fall in over six years, wiping Rs 53,451 crore from its market valuation.
Shares of IT services firm Infosys on Tuesday plummeted nearly 17 per cent, wiping Rs 53,451 crore from its market valuation, on concerns over a whistleblower complaint which alleged that two top executives of the company were indulging in unethical practices to increase short-term revenue and profits.
IT major Infosys saw its worst day on the bourses in over six years on Tuesday as investors pulled out their funds over recent corporate governance issues. Its scrips settled nearly 17 per cent lower despite assurances from the company top brass.
In one of the letters, the whistleblower said that Parekh and Roy were pressuring the finance team to show more profits in their treasury management by taking risks and making changes to policies.
The committee began consultation with independent internal auditors EY, and has retained law firm, Shardul Amarchand Mangaldas & Co. to conduct an independent investigation, Nilekani noted in his statement to the stock exchanges.
Infosys Chief Executive Officer (CEO) Salil Parekh and Chief Financial Officer (CFO) Nilanjan Roy have been accused of unethical practices by a few anonymous employees of the global software vendor.
S Gopalakrishnan, Joint Secretary, MEITY, also said the Ministry has appointed a committee headed by the Infosys co-founder Kris Gopalakrishnan to make a recommendation on how to handle non-personal data.
IT services major Infosys on Wednesday said it has entered into a strategic partnership with Eishtec under which 1,400 employees of the Irish firm will be transferred to Infosys BPM.
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