In October last year, Infosys had informed stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices by the top management
The company said the audit committee found that the 'allegations are substantially without merit'
Market analysts said Infosys' performance was in line with their expectations
The whistleblower complained that he was unable to disclose his identity fearing retaliation for the damning disclosures he was making against Parekh
Infosys says the anonymous complaints were still under investigation as company's stocks rise.
While Murthy was relentless in his criticism of the erstwhile company board and its CEO for not disclosing information to shareholders, his silence this time has been deafening
The letter was made public last Monday, after which Infosys' stock price was badly hit, though it has recovered a bit in the last trading session
Parekh took solace in a couple of things in his new job
For the second time in about as many years, the Indian icon synonymous with the country's technological ascendancy is being forced to answer accusations of impropriety
Investors lost a staggering Rs 53,000 crore when the stock tanked 16 per cent on Tuesday
Stock likely to come under more pressure today; audit committee examining anonymous claims
Experts say no significant diversion from past accounting practices reported by the IT firm in recent quarters
The company in a statement on Monday said the whistleblower complaint had been placed before the audit committee as per the company's practices
The second half is usually weaker in our sector, which is because of normal seasonality, but overall our deal pipeline remains strong, says Parekh
Infosys plans to continue hiring locals in the coming quarters
The clients are positive with us and we have seen some level of stability. So, from a business perspective, we feel comfortable where we are going and first-quarter growth is testimony to that
The growth of your digital business at 25% (YoY) is no match as compared with that of TCS, said Parekh
Also, 99.98% Infosys shareholders approved appointment of U B Pravin Rao as chief operating officer
Co-founder and chairman Nandan Nilekani congratulated Infosys' finance team for pulling off a 'flawless share buyback' worth Rs 130 bn