Infosys saga: Issues in corporate governance

While the founder-shareholders' intervention was not a surprise, using a public forum to do so was

Infosys, a global leader in information technology (IT) and consulting, is in the news after its founder-shareholders, who together hold around 13 per cent of the outstanding equity shares, voiced their concern over certain corporate governance issues. A whistle-blower has raised the same issues in a letter to Sebi. They relate to alleged overpayment in the acquisition of Panaya, in which Hasso Plattner, the co-founder of SAP (the company in which Infosys CEO Vishal Sikka worked earlier), had 8.33 per cent shareholding; and the unusually high severance pay of Rs 17.38 crore (Rs 5.2 crore actually paid) to the erstwhile