Infosys does not prefer JVs, says Shibulal

IT major Infosys Technologies Limited, which is on the lookout for more acquisitions, does not prefer any joint ventures since it wants to keep corporate governance simpler.

According to one of the co-founders of the company, joint ventures do not provide scope for simplifying issues relating to corporate governance.

"In the last 26 years of our existence in the IT industry, there have been no major joint ventures. However, we have two fully-owned subsidiaries (China and Australia) because the local laws mandate such set-ups. By remaining independent, any company can make corporate governance very simple," Infosys Technologies Chief Operating Officer S D Shibulal said in his keynote address to the 8th national conference of practicing company secretaries on Friday.

He pointed out that Infosys was active in 32 countries. "In all these countries, we comply with the local laws. It is our aim to bring in transparency in all our activities at every level. Consequently, the company is making disclosures whenever required unmindful of their impact on the performance," Shibulal added.