The IT-leading Infosys sector has seen a sharp increase of about 5% on the stock market today, with the stock market expecting to deliver better results than anticipated on the market, as well as accusations against CEO Salil Parekh and CFO Nilanjan Roy. The Board of Directors ‘ Audit Committee did not find any justification for the allegations made by the whistleblower. Following good quarterly results and clean cheating on the issue of the whistleblower, Infosys ‘ shares in the stock market today rose to an intraday high of Rs.777.55 and to Rs.35.55, or 4.82% to Rs.773.80. It is worth mentioning here that the complainant alleged that Parekh and Roy had tampered with the accounting system in order to make the company’s profits more visible.
Parekh led the company: Nandan Nilekani Infosys Chairman Nandan Nilekani said that Parekh and Roy are strong patrons of the company. Parekh played a very important role in the success of the company. The Board is optimistic that the new strategy of the organization will be successfully followed.
Infosys unveiled the complaint of the whistleblower on 21 October. A committee was set up in conjunction with the firm’s independent legal counsel, Shardul Amarchand Mangaldas & Company and PricewaterhouseCoopers, to investigate the claims.