Infosys Audit Committee
Infosys (NYSE: INFY), a world leader in next-generation digital
services and consulting, today
services and consulting, today
announced that its Audit Committee of the Board of Directors
(the "Audit Committee")
(the "Audit Committee")
has concluded the independent investigation ("investigation")
into allegations contained in the
into allegations contained in the
anonymous whistleblower complaints the company disclosed
on October 21, 2019
on October 21, 2019
("whistleblower complaints") and determined that the allegations
are substantially without merit.
are substantially without merit.
The Audit Committee conducted a thorough investigation with the
assistance of independent legal
assistance of independent legal
counsel Shardul Amarchand Mangaldas & Co. and
PricewaterhouseCoopers Private Ltd.
PricewaterhouseCoopers Private Ltd.
(collectively "investigation team").
The findings of the investigation were adopted by the Board of
Directors of the Company.
The Audit Committee concluded that no restatement of
previously announced financial statements
previously announced financial statements
or other published financial information is warranted.
Infosys' Audit Committee Chairperson, D. Sundaram, stated,
"The Audit Committee took the
anonymous whistleblower complaints very seriously and
commissioned a thorough investigation
commissioned a thorough investigation
with the assistance of independent legal counsel.
The Audit Committee determined that there was no evidence
of any financial impropriety or
of any financial impropriety or
executive misconduct."
Infosys Chairman Nandan Nilekani said, "I am pleased that
after a rigorous investigation,
the Audit Committee has found no wrongdoing by the Company
or its Executives.
or its Executives.
CEO Salil Parekh and CFO Nilanjan Roy are strong custodians
of the Company's proud heritage.
of the Company's proud heritage.
Salil has played a key role in reinvigorating the organization
and driving momentum and the Board
and driving momentum and the Board
is confident that he will continue to execute on the company's
new strategic direction successfully."
new strategic direction successfully."
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