[rovingeye]

If anyone wants to join the Class Action Lawsuit, please head over here - https://www.rosenlegal.com/cases-1700.html

[locusjag]

Really dumb question - should this brouhaha have any bearing on people who're in the midst of an interview process with Infosys? Other IT companies have run-in with the SEC or the legal system in the US before and they've come away after parting with a few million dollars in fines or settlements. But is this any different from those past instances?

[srishiva]

Originally Posted by locusjag

Really dumb question - should this brouhaha have any bearing on people who're in the midst of an interview process with Infosys? Other IT companies have run-in with the SEC or the legal system in the US before and they've come away after parting with a few million dollars in fines or settlements. But is this any different from those past instances?

In US, you can do anything, pay off and be absolved. But what would be that amount ? if the stock prices bounce back how will they claim financial loss ? SEC might slap a fine if something irregular is detected.

[sansvk]

Originally Posted by srini1785

One thing i did notice is that the complaint itself is badly written. I would suggest that the next whistle blower gets his/her complaint proof checked.

For me the poor choice of words and errors are intentional. It seems to be one disgruntled employee backed by Senior or an ex-employee with some personal agenda. Let's wait for the verdict.

[fordday]

I have respect for Infy as a company for their contribution to the Indian IT ecosystem.

The accusations of slur and personal expenses can hardly stick. Its not as if he is using that language in board meetings. Most likely these are in personal conversations. I would believe even the other party uses such colourful terms for him. Just that they are not caught yet.

As for expenses, it is not that he is throwing money in Texas casinos. Flight expenses at CEO level can hardly be taken as abuse of company facilities.

But the news about derivatives market is alarming. Seems the entire plot starts and ends there.

[deehunk]

Originally Posted by sansvk

For me the poor choice of words and errors are intentional. It seems to be one disgruntled employee backed by Senior or an ex-employee with some personal agenda. Let's wait for the verdict.

Never make a quick call, this is not a one-off incident. The list of corrupt CEO's has been rising in India, corruption flows in the blood of fake leaders. I have seen so many companies with stinking work culture/CEO's, but unfortunate that Infy is struggling to find a good CEO.

[fhdowntheline]

I wonder whether it is good form for them to issue stock options to middle/ senior people until the investigation has been cleared up.

[kovilkalai]

I didn’t realise we discuss non-auto topics here. I thought there has to be some connection to autos or the business of autos. Since this topic is out there, my two pennies...

We all have our opinions about the possible guilt or innocence of the CEO/CFO. However, at this point, the best answer should be “let’s wait for the independent report”. Fraud is rampant in Indian industry, but that is all the more reason why due process is important.

What is particularly dangerous is people like Rakesh Jhunjhunwala asking for the names of whistleblowers to be made public. We don’t have a proper whistleblower process enshrined in law for corporates (only for the government). There is a reason why whistleblowers are not identified - they are likely to be harassed and they lose any chance of getting a job anywhere else. It is also incredibly difficult to identify fraud without the help of insiders.

Lastly, I understand that everyone uses words like “Madrasi”. That doesn’t make it right. The guy is a CEO. He should know that one should make arguments based on the merits and not on the state of origin of the guys asking questions. I don’t mind someone calling me an idiot or a diva (although when targeted at a woman, there are some sexist implications - there is a history to this word). That speaks to that person’s opinion of me and me alone. The moment you stick in the word Madrasis, I start wondering about biases. Every single South Indian will start wondering whether Infy brass prefer people from other parts of India.

I also believe that even if proven, the Madrasi and diva comments should not result in firing the guy. We are not going to become empathetic folks overnight. There is active racism and unconscious racism - I am sure several of us are guilty of the latter. The best approach is sensitise people towards the dangers of their actions and hope that it sticks. Every generation is attempting to get better at something. When our children look at us, we are being judged for something we are likely unaware of. I’d rather be educated about it than lose my job and career.

[The Observer]

Hiding under the cloak of anonymity almost anyone with some level of knowledge on how to flex the systems,can make accusations. While anonymity should still remain accountability also should.

It's a classic ploy used to defame a company or its leaders. Let the investigation run its course and bring out the truth. Chase the evidence not your gut feeling.

A point for introspection in the corporate world. Chasing quarterly earnings growth and incentivizing based on that has time and again proven to be self destructive in the long run. Pursue value creation and sustainability.

[rubicon]

Originally Posted by civic-sense

He deserves to be kicked out without any delay. He can't use a racial slur on his co-workers and expect to keep his job. Afterall he is the CEO of a company built by a bunch of 'madrasis'.

You are absolutely right. If there is a voice recording to prove this claim, he has to be (& i strongly believe will be) shown the door irrespective of what the other issues are.

After all they boast so much about their Diversity and inclusivity at workplace.

https://www.infosys.com/careers/discover/culture/

Originally Posted by deehunk

Never make a quick call, this is not a one-off incident. The list of corrupt CEO's has been rising in India, corruption flows in the blood of fake leaders. I have seen so many companies with stinking work culture/CEO's, but unfortunate that Infy is struggling to find a good CEO.

Agree to this. There are quite a few who do all that is possible to show progress on presentations/spreadsheets. This includes several actions that are morally not right or does not stand up to the values.

[laser2707]

Originally Posted by Samurai

I think he has been advised (correctly) that his silence is more appropriate at this point.

I was a marginal investor in this stock once upon a time. The money I had put in was for a critical expense. This was during the Sikka years. Every time NRN would utter something (and there were many occasions) the stock would crash by 15-20%.

This unnerved me. I understand the risk-reward ratio while investing but a ride on the Infosys roller coaster was not for me. This time around I think he has been asked to keep mum.

[speedmiester]

According to this report, there seems to be no inconsistency in data.
Infosys data has no visible inconsistency as alleged in whistleblower letter: ICICI Securities report
Let's await full investigation to be complete before drawing conclusions.

[srini1785]

Update :

Done. Buried. "Seek and destroy" starts

https://www.ndtv.com/business/infosy...home-topscroll